Interest Only ARM Calculator

This ARM calculator calculates monthly payments, property tax, homeowners insurance, and optionally Private Mortgage Insurance (PMI) for loans with a LTV greater than 80%. The amortization schedule adjusts for rate caps and an estimated index adjustment. The index adjustment feature allows you to make simple estimates fo annual increases or decreases in the index and how that may impact your payment.

Loan Information
? Property Value /Sale Price:
? Percentage Down:	%
? Loan Amount:	%
? Length of Mortgage:
? Interest Rate:	%
? Index Value:	%
? Margin:	%
? Initial Rate Adjustment:
? Periodic Adjustment Period:
? Initial Rate Cap:	%
? Periodic Rate Cap:	%
? Life Cap:	% Maximum rate increase.
? Annual Index Adjustment:	% (ex. 1.5 raises the index, -1.5 lower.)
? Interest Only Payment:
? Interest Only Period:	months
? Calculate PMI:	For loans with > 80% LTV.
? Amortization Schedule:	Show me the Amortization Schedule
? Payment to use for Amortization:	Interest Only Fully Amortized The payment you will make.