ARM vs. Fixed Rate Mortgage
A Fixed Rate Mortgage has the same payment for the entire term of the loan. An Adjustable Rate Mortgage (ARM) has a fixed rate for a specific period of time ("initial period"), after which the rate may adjust and change your monthly payment. Just click the pencil icon to expand the sections below, enter your mortgage information, and click the "View Report" button to compare a Fixed Rate Mortgage to a Fully Amortizing ARM.
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