Estimate total payments and interest on an adjustable-rate mortgage, accounting for scheduled rate changes and forecasted rate movement.
The total amount borrowed.
The rate in effect at the start of the loan, before any adjustments.
Total loan term in months (30 years = 360).
Whether you expect rates to stay the same, increase, or decrease over the life of the loan.
How long the initial rate holds before the first scheduled adjustment.
How often the rate can change after the first adjustment.
The size of each rate change, applied in the direction of your forecast.
The lowest the rate can ever go over the life of the loan.
The highest the rate can ever go over the life of the loan.