Fixed Rate Mortgage vs. LIBOR ARM

A fixed rate mortgage has the same payment for the entire term of the loan. An adjustable rate mortgage (ARM) has a rate that can change, causing your monthly payment to increase or decrease. LIBOR, which stands for the London InterBank Offered Rate, is an index set by a group of London based banks, and sometimes used as a base for U.S. adjustable rate mortgages. This calculator compares a fixed rate mortgage to a LIBOR ARM.

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Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot 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.