Interest Only ARM Calculator Overview

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.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.
ARM vs. Fixed Rate Mortgage
*This entry is Required. indicates required.
Report amortization:
Report amortization
**FIG_GRAPHTITLE** Column Graph: Please view the report to see detailed calculation results in tabular form.

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.

Other Mortgage and Financial Calculators

In addition to the standard mortgage calculator, this page lets you access more than 100 other financial calculators covering a broad variety of situations. Choose from calculators covering various aspects of mortgages, auto loans, investments, student loans, taxes, retirement planning and more.