Use this ARM mortgage calculator to get an estimate.
An adjustable-rate mortgage (ARM) is a good short term mortgage option that offers a lower initial interest rate and monthly payment. After your introductory rate term expires, your payment rate may increase.
This ARM mortgage calculator provides customized information based on the information you provide, but it assumes a few things about you - for example, that you have excellent credit (a FICO credit score of 740+) and that you're buying a single-family home as your primary residence. This ARM mortgage calculator also makes some assumptions about typical down payment amounts, settlement costs, lender's fees, mortgage insurance, and other costs. Learn more about these assumptions below.