{"id":633,"date":"2022-08-26T22:31:36","date_gmt":"2022-08-26T22:31:36","guid":{"rendered":"https:\/\/www.firststatemortgage.biz\/?page_id=633"},"modified":"2022-11-10T16:23:54","modified_gmt":"2022-11-10T16:23:54","slug":"fixed-rate-vs-arm","status":"publish","type":"page","link":"https:\/\/www.firststatemortgage.biz\/calculators\/fixed-rate-vs-arm\/","title":{"rendered":"Fixed Rate vs ARM"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"633\" class=\"elementor elementor-633\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-4be107b elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4be107b\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_top&quot;:&quot;waves&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-top\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M421.9,6.5c22.6-2.5,51.5,0.4,75.5,5.3c23.6,4.9,70.9,23.5,100.5,35.7c75.8,32.2,133.7,44.5,192.6,49.7\n\tc23.6,2.1,48.7,3.5,103.4-2.5c54.7-6,106.2-25.6,106.2-25.6V0H0v30.3c0,0,72,32.6,158.4,30.5c39.2-0.7,92.8-6.7,134-22.4\n\tc21.2-8.1,52.2-18.2,79.7-24.2C399.3,7.9,411.6,7.5,421.9,6.5z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-959e34f\" data-id=\"959e34f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8eacc2a elementor-widget elementor-widget-heading\" data-id=\"8eacc2a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h2 class=\"elementor-heading-title elementor-size-default\">FIXED RATE VS ARM<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-78dda68 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"78dda68\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-58536a0\" data-id=\"58536a0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bb1c113 elementor-widget elementor-widget-heading\" data-id=\"bb1c113\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Should I get a fixed or adjustable rate mortgage (ARM)?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-846ce6c elementor-widget elementor-widget-text-editor\" data-id=\"846ce6c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.20.0 - 26-03-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Use this calculator to compare the monthly principal and interest payments for a fixed rate and an adjustable rate mortgage.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"has_eae_slider elementor-section elementor-top-section elementor-element elementor-element-113bc8c elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"113bc8c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_eae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9623644\" data-id=\"9623644\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-910b39e elementor-widget elementor-widget-text-editor\" data-id=\"910b39e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<link rel=\"stylesheet\" type=\"text\/css\" href=\"https:\/\/www.firststatemortgage.biz\/wp-content\/themes\/astra-child\/armvsfixed\/armvsfixed.css\" \/>\n\t<script src=\"https:\/\/www.firststatemortgage.biz\/wp-content\/themes\/astra-child\/armvsfixed\/moment.js\"><\/script>\n\t<script src=\"https:\/\/www.firststatemortgage.biz\/wp-content\/themes\/astra-child\/armvsfixed\/armvsfixed.js\"><\/script>\n\t<section id=\"content1\">\n  <div class=\"table-block calculator-form\">\n\t<style>\n\t.calculator-form .form-group {\n\t\tmargin-bottom: 15px;\n\t}\n\t.calculator-form .form-group label , .calculator-form .form-group input , .calculator-form .form-group select {\n\t\twidth: 100%;\n\t\tfont-family: \"Metropolis\", sans-serif;\n\t\tfont-size: 1.5vm;\n\t\tline-height: 1.3em;\n\t}\n\t.calculator-form .form-group input , .calculator-form .form-group select  {\n\t\tborder: 1px solid #ddd;\n\t\tborder-radius: 5px;\n\t\tpadding: 10px 15px;\n\t\tline-height: 24px;\n\t}\n\t.calculator-form .form-group label {\n\t\tmargin-bottom: 5px;\n\t\tdisplay: block;\n\t}\n\t.form-group.submit , .form-group.submit-bottom {\n\t\tdisplay: flex;\n\t\tjustify-content: flex-start;\n\t}\n\t.form-group.submit input, .form-group.submit-bottom input {\n\t\twidth: auto;\n\t\tmargin-right: 10px;\n\t}\n\t\/*.elementor-widget-html button#change {\n\t\tmargin: 0 auto !important;\n\t\tfloat: none !important;\n\t}*\/\n\t.elementor-element-f3aec16.elementor-widget.elementor-widget-html {\n\t\tdisplay: flex;\n\t\tjustify-content: center;\n\t}\n\t.calculator-form form h3 , .calculator-form form h2 {\n\t\tfont-family: \"Metropolis\", sans-serif;\n\t\tfont-weight: bold;\n\t\tmargin-top: 40px;\n\t\tmargin-bottom: 10px !important;\n\t\tcolor: #04467D;\n\t}\n\t.date-options {\n\t\tdisplay: flex;\n\t}\n\t.date-options select , .date-options input {\n\t\twidth: auto !important;\n\t\tmargin-right: 10px;\n\t}\n\t.form-comparision {\n    display: flex;\n    flex-wrap: nowrap;\n    align-items: center;\n    justify-content: space-between;\n\t}\n\t.form-comparision label {\n\t\twidth: 100%;\n\t}\n\t.form-comparision .form-group {\n\t\twidth: 100%;\n\t\tmargin: 10px;\n\t}\n\t.form-row-two {\n\t\tdisplay: flex;\n\t\tflex-wrap: wrap;\n\t\talign-items: flex-start;\n\t}\n\t.form-row-two .form-group {\n\t\twidth: 50%;\n\t\tpadding: 5px;\n\t}\n\t.form-row-two .form-group:last-child {\n\t\tpadding-right: 0px;\n\t}\n\t.form-row-two .form-group:first-child {\n\t\tpadding-left: 0px;\n\t\tpadding-right:\n\t}\n\t<\/style>\n    <form name=\"calc\" method=\"post\" action=\"#\">\n      <!-- <h3>Mortgage Loan Basics<\/h3> -->\n\t  <div class=\"form-row-two\">\n\t\t<div class=\"form-group\">\n\t\t\t<label>House price <!---[ <a href=\"#\" title=\"the appraisal value of the home\">?<\/a>]-->: <\/label>\n\t\t\t<input name=\"homevalue\" type=\"number\" step=\"0.01\" onkeyup=\"clear_results(this.form);calcOwed(this.form);computeForm(this.form)\" value=\"250000\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t<\/div>\n\t\t<div class=\"form-group\">\n\t\t\t<label>Down Payment <!---[ <a href=\"#\" title=\"the amount you will initially deposit toward the home, which is used to calculate the remaining loan amount &amp; if PMI is required\">?<\/a>]-->: <\/label>\n\t\t\t<input type=\"number\" step=\"0.01\" name=\"principal\" size=\"10\" value=\"50000\" onkeyup=\"clear_results(this.form);calcOwed(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t<\/div>\n\t  <\/div>\n\t  <div class=\"form-row-two\">\n\t\t<div class=\"form-group\">\n\t\t\t<label>Owed on Home <!---[ <a href=\"#\" title=\"Home price less the downpayment. This is used as the base loan amount before factoring in any closing costs\">?<\/a>]-->: <\/label>\n\t\t\t<input type=\"number\" step=\"0.01\" name=\"owedonhome\" size=\"10\" value=\"200000\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t<\/div>\n\t\t<div class=\"form-group\">\n\t\t\t<label>Lending Term (years) <!---[ <a href=\"#\" title=\"the duration of the loan\">?<\/a>]-->: <\/label>\n\t\t\t<input type=\"number\" step=\"any\" name=\"numYears\" size=\"10\" value=\"30\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t<\/div>\n\t  <\/div>\n\t  <div class=\"form-row-two\">\n\t\t<div class=\"form-group\">\n\t\t\t<label>\n\t\t\t<acronym title=\"Private Mortgage Insurance\">PMI<\/acronym> (%) <!---[ <a href=\"#\" title=\"Property Mortgage Insurance is typically required on mortgages where the borrower is borrowing more than 80% of the property value (or putting down a downpayment below 20%)\">?<\/a>]-->: <\/label>\n\t\t\t<input name=\"monthlyPMI\" type=\"number\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" value=\"0.5\" step=\"0.01\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t<\/div>\n\t  <\/div>\n      <h3>Points &amp; Other Closing Costs<\/h3>\n\t  \t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Discount points<\/label>\n\t\t\t\t<select name=\"discountptsDol\" size=\"1\" onchange=\"clear_results(this.form);computeForm(this.form)\" class=\"dd-Style\">\n\t\t\t\t<option value=\"points\">points<\/option>\n\t\t\t\t<option value=\"dollar\">dollars<\/option>\n\t\t\t\t<\/select> \n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>[ <a href=\"#\" title=\"Discount points allow you to buy a lower interest rate. Enter this data as a set number of points or as dollar amount and select dollars.\">?<\/a>] <\/label>\n\t\t\t\t<input name=\"discountpoints\" type=\"number\" step=\"any\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" size=\"10\" value=\"0\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Origination points<\/label>\n\t\t\t\t<select name=\"origptsDol\" size=\"1\" onchange=\"clear_results(this.form);computeForm(this.form)\" class=\"dd-Style\">\n\t\t\t\t<option value=\"points\">points<\/option>\n\t\t\t\t<option value=\"dollar\">dollars<\/option>\n\t\t\t\t<\/select> \n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>[ <a href=\"#\" title=\"Some mortgage brokers charge an origination fee for the loan. Enter this data as a set number of points or as dollar amount and select dollars.\">?<\/a>]<\/label>\n\t\t\t\t<input name=\"origpoints\" type=\"number\" step=\"any\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" size=\"10\" value=\"0\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Finance points? <!---[ <a href=\"#\" title=\"set to yes if you want to roll these costs into your loan\">?<\/a>]--><\/label>\n\t\t\t\t<select name=\"finpoints\" size=\"1\" onchange=\"clear_results(this.form);computeForm(this.form)\" class=\"dd-Style\">\n\t\t\t\t<option value=\"0\">No<\/option>\n\t\t\t\t<option value=\"1\">Yes<\/option>\n\t\t\t\t<\/select>\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Other closing costs: <!---[ <a href=\"#\" title=\"loan origination fees, appraisal fees, title fees, etc.\">?<\/a>]--> <\/label>\n\t\t\t\t<input name=\"closingcosts\" type=\"number\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" value=\"1200\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\" step=\"0.01\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Finance other loan closing costs?<!--- [ <a href=\"#\" title=\"set to yes if you want to roll these costs into your loan\">?<\/a>]--> <\/label>\n\t\t\t\t<select name=\"finclose\" size=\"1\" onchange=\"clear_results(this.form);computeForm(this.form)\" class=\"dd-Style\">\n\t\t\t\t<option value=\"0\">No<\/option>\n\t\t\t\t<option value=\"1\">Yes<\/option>\n\t\t\t\t<\/select>\n\t\t\t<\/div>\n\t\t<\/div>\n      <h3>Fixed Rate Mortgage &#038; FRM Rate<\/h3>\n\t  \t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Interest Rate (%)<!--- [ <a href=\"#\" title=\"with a fixed-rate loan the rate &amp; monthly principal + interest payments do not change throughout the duration of the loan no matter what happens to broader economic conditions\">?<\/a>]--->: <!---( <a href=\"#currentrates\">\n\t\t\t\t\t<strong>Get Current Rates<\/strong>\n\t\t\t\t<\/a>)--> <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"fixed_rate\" size=\"10\" value=\"4.5\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n      <h3>Amortizing Adjustable Rates &#038; ARM Rates<\/h3>\n\t  \t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Initial Rate (APR %) <!---[ <a href=\"#\" title=\"this is the rate charged at the beginning of the loan. it is often quite low &amp; is called a teaser rate or introductory rate\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"adj_start_rate\" size=\"10\" value=\"3.7\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Years Before First Adjustment <!---[ <a href=\"#\" title=\"the number of years the above rate applies for - for a 5\/1 ARM this would be the 5, as in 5 years\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"adj_start_months\" size=\"10\" value=\"5\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Expected First Rate Adjustment (%) <!---[ <a href=\"#\" title=\"this will typically be larger than other adjustments since some loans have an artificially low introductory rate &amp; market conditions have multiple years to change before this adjusts\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"first_adjust_amt\" size=\"10\" value=\"1\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Months Between Subsequent Adjustments <!---[ <a href=\"#\" title=\"typically 12 for most ARMs, though if rates adjust twice a year it would be 6 &amp; it would be 24 if they adjust every other year\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"adjust_months\" size=\"8\" value=\"12\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Expected Subsequent Adjustments (%) <!---[ <a href=\"#\" title=\"typically smaller than the initial adjustment\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"adjust_amt\" size=\"8\" value=\".5\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Lifetime Adjustment Cap (%) <!---[ <a href=\"#\" title=\"if rates started at 4% and were allowed to go up 6% to a max of 10% you would enter 6% here. typically lifetime cap is 5% or 6% on most ARM loans\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"adj_rate_cap\" size=\"15\" value=\"5\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n      <h3>Interest-Only Adjustable Rates &#038; IO ARM Rates<\/h3>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Initial Rate (%) <!---[ <a href=\"#\" title=\"this is the rate charged at the beginning of the loan. it is often quite low &amp; is called a teaser rate or introductory rate\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"io_start_rate\" size=\"15\" value=\"3.9\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Years Before Adjustment <!---[ <a href=\"#\" title=\"the number of years the above rate applies for - for a 5\/1 ARM this would be the 5, as in 5 years\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" i=\"\" name=\"io_start_months\" size=\"15\" value=\"3\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Expected First Rate Adjustment (%) <!---[ <a href=\"#\" title=\"this will typically be larger than other adjustments since some loans have an artificially low introductory rate &amp; market conditions have multiple years to change before this adjusts\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"first_io_adjust_amt\" size=\"15\" value=\"1.5\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Months Between Subsequent Adjustments <!---[ <a href=\"#\" title=\"typically 12 for most ARMs, though if rates adjust twice a year it would be 6 &amp; it would be 24 if they adjust every other year\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"io_adjust_months\" size=\"8\" value=\"12\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Expected Subsequent Adjustments (%) <!---[ <a href=\"#\" title=\"typically smaller than the initial adjustment\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"io_adjust_amt\" size=\"15\" value=\"1\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Lifetime Adjustment Cap (%) <!---[ <a href=\"#\" title=\"if rates started at 4% and were allowed to go up 6% to a max of 10% you would enter 6% here. typically lifetime cap is 5% or 6% on most ARM loans\">?<\/a>]-->: <\/label>\n\t\t\t\t<input type=\"number\" step=\"any\" name=\"io_rate_cap\" size=\"15\" value=\"6\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n      <h3>Other Homeownership Expenses &#038; Amount<\/h3>\n\t  \t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Annual Property taxes ($) <!---[ <a href=\"#\" title=\"different states &amp; localities charge different rates, but they are typically somewhere close to the 1% to 2% of assessed property value across most of the country\">?<\/a>]-->: <\/label>\n\t\t\t\t<input name=\"annualTax\" type=\"number\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" value=\"2500\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\" step=\"0.01\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Annual Homeowner insurance ($) <!---[ <a href=\"#\" title=\"typically around $1,250\/yr. Florida, Louisiana &amp; some other southern states can run from 50% to 200% above the national average. earthquake and flood coverage typically require separate policies.\">?<\/a>]-->: <\/label>\n\t\t\t\t<input name=\"annualInsurance\" type=\"number\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" value=\"1250\" step=\"0.01\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Monthly <acronym title=\"Homeowner's association dues\">HOA<\/acronym> fees ($) <!---[ <a href=\"#\" title=\"common for condos &amp; planned communities. the cost depends on the services rendered along with the age of the property and the quality of the build\">?<\/a>]-->: <\/label>\n\t\t\t\t<input name=\"monthlyHOA\" type=\"number\" onkeyup=\"clear_results(this.form);computeForm(this.form)\" value=\"0\" step=\"0.01\" size=\"10\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-group submit-bottom\">\n\t\t\t<input type=\"reset\" class=\"styled-button\" value=\"Reset\">\n\t\t\t<input type=\"button\" class=\"styled-button\" name=\"compute\" value=\"Compare Mortgages\" onclick=\"computeForm(0)\">\n\t\t<\/div>\n      <h3>Loan Amount, LTV &amp; Closing Costs &#038; Amount<\/h3>\n\t  \t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Loan amount:<\/label>\n\t\t\t\t<input type=\"text\" name=\"loan_amt\" size=\"10\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Closing costs:<\/label>\n\t\t\t\t<input type=\"text\" name=\"closing_amt\" size=\"10\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Down payment percent:<\/label>\n\t\t\t\t<input type=\"text\" name=\"downpercent\" size=\"10\">\n\t\t\t<\/div>\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>Loan-to-value (LTV):<\/label>\n\t\t\t\t<input type=\"text\" name=\"ltv\" size=\"10\">\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"form-row-two\">\n\t\t\t<div class=\"form-group\">\n\t\t\t\t<label>PMI required?<\/label>\n\t\t\t\t<input type=\"text\" name=\"pmireq\" size=\"10\">\n\t\t\t<\/div>\n\t\t<\/div>\n      <h2>Compare Your Loan Options<\/h2>\n      <h3>Your Initial Monthly Payments<\/h3>\n\t  <div class=\"form-comparision\">\n\t\t  <label>Principal &amp; Interest Payment <!---[ <a href=\"#\" title=\"the initial core loan payment related to the costs of financing the home\">?<\/a>]-->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"fixed_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"adj_start_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"io_start_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t  <\/div>\n\t  <div class=\"form-comparision\">\n\t\t<label>Taxes, Insurance, PMI &amp; HOA <!---[ <a href=\"#\" title=\"other common costs of homeownership\">?<\/a>]-->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"otherPmts\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"otherPmts2\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"otherPmts3\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t<\/div>\n\t  <div class=\"form-comparision\">\n\t  <label>All-in Initial Payment <!---[ <a href=\"#\" title=\"adding the other costs of ownership to the core loan costs\">?<\/a>]-->: <\/label>\n      <div class=\"form-group\">\n        <label>Fixed<\/label>\n        <input type=\"text\" name=\"fixed_pmt_total\" size=\"10\" class=\"mediumwidth\">\n      <\/div>\n      <div class=\"form-group\">\n        <label>ARM<\/label>\n        <input type=\"text\" name=\"adj_start_pmt_total\" size=\"10\" class=\"mediumwidth\">\n      <\/div>\n      <div class=\"form-group\">\n        <label>Interest-Only<\/label>\n        <input type=\"text\" name=\"io_start_pmt_total\" size=\"10\" class=\"mediumwidth\">\n      <\/div>\n\t  <\/div>\n      <h2>Maximum Monthly Payments<\/h2>\n\t  <div class=\"form-comparision\">\n\t\t<label>Max Monthly P&amp;I Payment <!---[ <a href=\"#\" title=\"this is the maximum monthly payment on the core loan based on the rate adjustment information &amp; lifetime adjustment caps\">?<\/a>]-->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"fixed_max_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"adj_max_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"io_max_pmt\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <\/div>\n\t\t<div class=\"form-comparision\">\n\t\t  <label>All-in Max Payment <!---[ <a href=\"#\" title=\"this adds the other costs of homeownership to the above number. please note home maintenance can be another big expense, depending on the age &amp; condition of the property.\">?<\/a>]-->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"fixed_max_pmt_total\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"adj_max_pmt_total\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"io_max_pmt_total\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t  <\/div>\n      <h2>Total Interest &amp; Loan Costs<\/h2>\n\t  <div class=\"form-comparision\">\n\t\t<label>Total of All P&amp;I Payments <!---[ <a href=\"#\" title=\"the amount of principal repaid throughout the duration of the loan added with the cost of interest throughout that period\">?<\/a>]-->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"fixed_total_pmts\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"adj_total_pmts\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"io_total_pmts\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t<\/div>\n\t\t<div class=\"form-comparision\">\n\t\t\t<label>Total Interest <!---[ <a href=\"#\" title=\"the total amount spent on interest throughout the loan term\">?<\/a>]--->: <\/label>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Fixed<\/label>\n\t\t\t<input type=\"text\" name=\"fixed_total_int\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>ARM<\/label>\n\t\t\t<input type=\"text\" name=\"adj_total_int\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t\t  <div class=\"form-group\">\n\t\t\t<label>Interest-Only<\/label>\n\t\t\t<input type=\"text\" name=\"io_total_int\" size=\"10\" class=\"mediumwidth\">\n\t\t  <\/div>\n\t  <\/div>\n      <h2>Create Printable report<\/h2>\n      <div class=\"form-group\">\n        <label>Loan origination date:<\/label>\n        <div class=\"date-options\">\n          <select name=\"loanoriginationmonth\" id=\"loanoriginationmonth\" size=\"1\" class=\"dd-Style\">\n            <option value=\"0\">Month<\/option>\n            <option value=\"1\">Jan<\/option>\n            <option value=\"2\">Feb<\/option>\n            <option value=\"3\">Mar<\/option>\n            <option value=\"4\">Apr<\/option>\n            <option value=\"5\">May<\/option>\n            <option value=\"6\">Jun<\/option>\n            <option value=\"7\">Jul<\/option>\n            <option value=\"8\">Aug<\/option>\n            <option value=\"9\" selected=\"selected\">Sep<\/option>\n            <option value=\"10\">Oct<\/option>\n            <option value=\"11\">Nov<\/option>\n            <option value=\"12\">Dec<\/option>\n          <\/select>\n          <input name=\"loanoriginationday\" id=\"loanoriginationday\" min=\"1\" max=\"31\" style=\"width: 5em;\" size=\"4\" type=\"number\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\" value=\"28\">\n          <input name=\"loanoriginationyear\" id=\"loanoriginationyear\" min=\"-9999\" max=\"9999\" style=\"width: 5em;\" size=\"4\" type=\"number\" onfocus=\"if(this.value==this.defaultValue)this.value=''\" onblur=\"if(this.value=='')this.value=this.defaultValue\" value=\"2022\">\n        <\/div>\n      <\/div>\n      <script type=\"text\/javascript\">\n        var date = new Date();\n        var aday = date.getDate();\n        var amonth = date.getMonth() + 1;\n        var ayear = date.getFullYear();\n        document.getElementById(\"loanoriginationyear\").value = ayear;\n        document.getElementById(\"loanoriginationday\").value = aday;\n        document.getElementById(\"loanoriginationmonth\").value = amonth;\n      <\/script>\n      <div class=\"form-group submit\">\n        <input type=\"button\" class=\"styled-button\" name=\"compute\" value=\"Payment Report &amp; Schedule\" onclick=\"computeForm(1)\">\n      <\/div>\n    <\/form>\n  <\/div>\n<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FIXED RATE VS ARM Should I get a fixed or adjustable rate mortgage (ARM)? Use this calculator to compare the monthly principal and interest payments for a fixed rate and an adjustable rate mortgage.<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":1818,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":"","_vp_format_video_url":"","_vp_image_focal_point":[]},"acf":[],"_links":{"self":[{"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/pages\/633"}],"collection":[{"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/comments?post=633"}],"version-history":[{"count":67,"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/pages\/633\/revisions"}],"predecessor-version":[{"id":5233,"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/pages\/633\/revisions\/5233"}],"up":[{"embeddable":true,"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/pages\/1818"}],"wp:attachment":[{"href":"https:\/\/www.firststatemortgage.biz\/wp-json\/wp\/v2\/media?parent=633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}