Which Is Better: Fixed Or Adjustable?

Topics:
Investment Strategy,
Quantitative Analysis,
Tools and Templates
Tags:
Adjustable-rate Mortgage,
Finance,
Operational Accounting,
Payment
Source:
Money Management International

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Overview: This calculator calculates the monthly mortgage payment for a fixed- and Adjustable-Rate Mortgage (ARM) loan, given their respective interest rates and other loan terms. Payments on an adjustable-rate mortgage are fixed for an initial period and are usually adjusted annually after the initial period. Monthly payment increases and decreases with a change in the loan interest rate. Because loan payments change periodically, it can be concluded that adjustable-rate mortgages are not for every homeowner.

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Format: HTML | Date: Jan 2008

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