Helpful Loan Tools

Are you curious about the differences between a Fixed and Adjustable Rate Mortgage? This handy calculator can help you understand your mortgage options so you can decide which loan is right for you.

Here are the big differences:

With a Fixed Rate Mortgage, your monthly principal and interest payments will be steady, while with an Adjustable Rate Mortgage (ARM), your payments can vary over time. Adjustable Rate Mortgages typically have an initial fixed-rate that is usually lower than that of a comparable Fixed Rate mortgage; however after the fixed-rate period expires, the interest rate becomes adjustable.

Remember — This calculator is provided as a helpful starting point for your mortgage research. The results are based upon your responses and are in no way a replacement for a consultation with an experienced loan officer or your financial advisor. To speak with one of our loan officers, please call 866-997-7359.

How many years do you expect to stay in your next home?

Consider possible relocation for a job and lifestyle changes, such as a growing family, downsizing of home, etc.

Number of Years

Is it likely that you will refinance or pay off your loan in ?

A might be a good solution for you.

Our reasoning behind this recommendation.

You expect to have this mortgage for more than 10 years, which is too long to make a reasonable prediction about where interest rates will go. So, it's best for you to go with a fixed rate mortgage, which will ensure that your interest rate will never change. And should interest rates go down, you may have the option of refinancing your mortgage. Ask a loan officer for more details on a Fixed Rate Mortgage.

Learn more about Fremont Bank's Fixed Rate Mortgage

Our reasoning behind this recommendation.

1. You've told us that you plan to remain in your home for . 1. You've told us that you are likely to refinance or otherwise pay off the mortgage on your home within .
2. A remains at a fixed rate for , then adjusts every year after that.
3. Since you'll have the mortgage for only the fixed period, you'll get the benefit of the ARM's lower rate without the downside of the possible rate increase. Ask a loan officer for more details on an Adjustable Rate Mortgage.

Learn more about Fremont Bank's Adjustable Rate Mortgages.

Remember — This calculator is provided as a helpful starting point for your mortgage research. The results are based upon your responses and are in no way a replacement for a consultation with an experienced loan officer or your financial advisor. To speak with one of our loan officers, please call 866-997-7359.