Should I take out a fixed or adjustable rate mortgage?

It is a difficult decision to decide between a fixed and an adjustable rate mortgage. Factors such as loan duration, the index used by the lender, the number and timing of rate adjustments, and your assumption about the increase/decrease of future interest rates all have an impact. Use this calculator to help compare the total cost of each alternative.

Mortgage Alternatives and Assumptions

Fixed Rate Loan

Adjustable Rate Loan

Index Rate Detail

Adjustable Rate Detail

Comparison Assumptions