Buying and Selling

Fixed vs. Adjustable Rate Mortgage Calculator

Compare your monthly mortgage payments for a fixed-rate and adjustable-rate mortgage (ARM) loan

Mortgages loans generally fall into two categories, fixed-rate and adjustable rate mortgages (ARMs). Use the calculator below to compare your options and get a better idea of which mortgage may be right for you.

With a fixed-rate mortgage, the rate stays the same for the life of the loan. Buyers who are worried about rising rates or who plan to be in their home for a long time may opt for a fixed-rate mortgage.

With an adjustable rate mortgage, the interest rate is only fixed for an initial period of time. At the end of the fixed-rate period, the interest rate can adjust either up or down. Buyers opting for the typically lower ARM rates will need to be ready to adjust to a higher (or lower) rate, depending on the market conditions at the time of the adjustments.

If you need  help crunching the numbers or understanding the results, we’re here to help any way we can.

Information and these calculators are made available by one or more third party service providers. All examples are hypothetical and are for illustrative purposes. SunTrust Banks, Inc. and its affiliates do not provide legal or tax advice. Information provided and these calculators are not intended to offer any tax, legal, financial or investment advice. SunTrust cannot guarantee that the information provided or the calculators are accurate, complete, or timely. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. SunTrust makes no warranties with regard to these calculators or the results obtained by their use. SunTrust disclaims any liability arising out of your use of, or any tax position taken in reliance on, these calculators. Always consult an attorney or tax professional regarding your specific legal or tax situation.