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Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.

Definitions

Mortgage amount
Original or expected balance for your mortgage.

Starting interest rate
Initial annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Interest rate cap
This is the highest interest rate allowed by your mortgage. Your actual interest rate will not be adjusted above this rate.

Expected adjustment
The amount you believe that your mortgage's interest rate will change. This amount will be added to or subtracted from your interest rate.

Months between adjustments
The number of payment periods between potential adjustments to your interest rate. The most common is 12 months, which means your payment could change at most once per year.

Starting monthly payment
Monthly principal and interest payment (PI) based on your beginning balance and starting interest rate.

Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.



CNS Mortgage, LLC - MA Mortgage Broker, RI Mortgage Broker, & CT Mortgage Broker

CNS Mortgage, LLC 

            4331 Acushnet Ave         24 Bosworth Street #3                 
     New Bedford, MA 02745      Barrington, RI 02806     
  508-992-5251                       401-289-2277                     

Proudly serving all communities of
Massachusetts, Rhode Island, Connecticut & New Hampshire

MA Mortgage Broker Lic.#MB2599    RI Broker License # 20011271LB

CT 1st Mortgage Broker Lic. No. 18166   CT 2nd Mortgage Broker Lic. No. 18171

Licensed by the New Hampshire Banking Department

Equal Housing Opportunity


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