Should I Choose a Fixed Rate or an Adjustable Rate Loan?
	ADJUSTABLE	FIXED
Loan amount		$
Loan term (years)
Interest rate
Months between adjustments
Maximum rate change/adjustment
Minimum rate
Maximum rate
MONTHLY PAYMENTS:
Total first monthly payment	$	$
Total cost of loan after 3 years	$	$
Total cost of loan after 7 years	$	$
Total cost of loan after 10 years	$	$
Total cost of loan after 20 years	$	$
Total cost of loan (held to original term)	$	$
Assumptions: The calculator shows results for mortgage amounts only, excluding any up-front fees and points as well as required payments for property taxes and insurance, and excluding any tax benefits that may result from itemizing deductions.