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Option ARM vs. Fixed Rate Mortgage Calculator

The option ARM vs. fixed rate mortgage calculator will calculate how the lower monthly mortgage payment on an option ARM can save you money when compared to a fixed rate mortgage. This calculator will show you how much you can save on a monthly basis.

Option ARM vs. Fixed Rate Mortgage Overview

There are two main types of mortgages: adjustable rate mortgages (ARMs) and fixed rate mortgages. One type of adjustable rate mortgage is an option ARM. Typically, an option ARM has a low introductory interest rate that is fixed for a short period of time, perhaps one or three months. This means that your monthly mortgage payments will be fixed for this same one- or three-month period. Since the interest rate on an option ARM is generally much lower than a fixed rate mortgage, the monthly mortgage payments on option ARMs are usually much lower as well.