Featured Rates

   

Institution Term Rate APY Min. To Earn APY Description
Ally Bank Classic CD 9 Mo. 1.19% 1.20% $0
  • Competitive rates. No monthly fees. Member FDIC.
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1 Yr. 1.64% 1.65% $0
1.5 Yr. 1.73% 1.74% $0
Rates as of Feb 9th See More FDIC Insured
Discover Bank CDs 9 Mo. 1.20% 1.20% $2500
  • Discover Bank offers great rates, security & convenience.
  • For personal accounts only.
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1 Yr. 1.84% 1.85% $2500
1.5 Yr. 1.88% 1.90% $2500
Rates as of Feb 9th See More FDIC Insured

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Interest Only ARM Calculator

The interest only ARM calculator will help to determine what the monthly mortgage payments will be for an interest only adjustable rate mortgage. This calculator also calculates what your monthly mortgage payment will be when the interest rate adjust. This calculator also shows what the total amount of your payments will be at the end of the term of the mortgage, as well as the total amount of interest that you will have paid at the end of the term of the mortgage.

This Financial Calculator requires SUN's Java Plug-in. If you see this message you will need to download SUN's Java Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing Install ActiveX Control.

    You can also get SUN's Java Plug-in here: Get the Java Plug-in!

    For more information about this Plug-in please visit: SUN's Java Plug-in
    For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Interest Only ARM Calculator Overview

An interest only mortgage requires that interest payments are made during a fixed period of time period. Interest only mortgages usually have an interest only payment option during the first 1, 3, 5, 7, or 10 years of the mortgage. For example, a 3/1 interest only ARM has a fixed interest rate for the first 3 years of the mortgage and during the same 3-year period only interest payments are required. Since only an interest payment is due, interest only mortgages usually have a lower monthly mortgage payment than mortgages that require principal and interest payments.

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