Kingman, Bullhead City and Lake Havasu City real estate and homes for sale in Arizona - West USA Realty Warring & Associates, REALTORS® West USA Realty Warring & Associates REALTORS(r) for Kingman, Bullhead City and Lake Havasu City, Arizona real estate - NUMBER1EXPERTS™ West USA Realty Warring & Associates NUMBER1EXPERTS(tm) for Kingman, Bullhead City and Lake Havasu City, Arizona real estate

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Living in the Kingman Arizona area for over 35 years, with 17 years in Kingman, Lake Havasu City, & Bullhead City real estate, I know the communities


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Mortgage Calculators: Kingman, Bullhead City and Lake Havasu City Arizona home buying, real estate listings, and homes for sale in Mohave                         County, AZ
Welcome > Resources > Mortgage Calculators > Fixed or Adjustable Rate ...


The Best Mortgage Calculators On the Web!
 

Please try my Java loan and mortgage calculators. They take a minute to load, but they are worth it! Each calculator has dynamic graphs and charts that change - right before your eyes - as you enter different information. Each financial calculator also includes a View Report option. The mortgage repayment schedule and other reports are fully customizable. These reports are designed for you to print out and keep...
 

Fixed or Adjustable Rate?

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. Use this calculator to compare a fixed rate mortgage to two types of ARMs, a Fully Amortizing ARM and an Interest Only ARM.

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Definitions

Fixed Rate Mortgage
A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage. The payment is calculated to payoff the mortgage balance at the end of the term. The most common terms are 15 year and 30 years.

Fully Amortizing ARM
This is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts annually. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. This calculator uses a maximum interest rate of 12%. Below is a list of the most common types of Fully Amortizing ARMs.

Common Adjustable Rate Mortgages
ARM TypeMonths Fixed
10/1 ARMFixed for 120 months, adjusts annually for the remaining term of the loan.
7/1 ARMFixed for 84 months, adjusts annually for the remaining term of the loan.
5/1 ARMFixed for 60 months, adjusts annually for the remaining term of the loan.
3/1 ARMFixed for 36 months, adjusts annually for the remaining term of the loan.
1 year ARMFixed for 12 months, adjusts annually for the remaining term of the loan.
Interest Only ARM
An Interest Only ARM only requires monthly interest payments. Since you are not paying any principal, as you are with the other two types of mortgages described above, this can lower your monthly payment. However, since your mortgage's principal balance is not decreased, you will have a balloon payment at the end of the mortgage's term. Like a Fully Amortizing ARM, an Interest Only ARM will often have a period where the interest rate is fixed, and then it is adjusted annually. An Interest Only ARM will also have a maximum interest rate that it will not exceed. This calculator uses a maximum interest rate of 12%.

Mortgage amount
Expected balance for your mortgage.

Term in years
The number of years over which you will repay this mortgage. The most common mortgage terms are 15 years and 30 years. Please note that for the Interest Only ARM you will have a balloon payment for the entire principal balance at the end of the loan term.

Expected rate change
The annual adjustment you expect in your ARM. The range for this calculator is minus 3% to plus 3%. Use a negative value if you believe interest rates will decrease, a positive value if you believe they will increase.

Interest rate
Annual interest rate for each mortgage type. Typically an ARM will have a lower interest rate than a fixed rate mortgage. The rate of an Interest Only ARM will vary by lender.

Months rate fixed
This is the number of months the rate is fixed for an ARM. During this period the interest rate and the monthly payment will remain fixed. The rate will then adjust annually by the expected rate change.

Interest rate cap
This is the maximum interest rate for this mortgage. The mortgage's interest rate will never exceed the interest rate cap.

Monthly payment
Monthly principal and interest payment (PI) for the Fixed Rate Mortgage and the Fully Amortizing ARM. This is an interest only payment for an Interest Only ARM.

The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't 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.




West USA Realty Warring & Associates, REALTOR®, real estate agents and broker for Kingman, Bullhead City and Lake Havasu City Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

Lori Warring
West USA Realty Warring & Associates

510 E. Beale Street
Kingman, AZ 86401
Office: 928 692 9872
Toll Free: 800 241-8623
Cell: 928 303 1205
Fax: 928 753-8911
Email: LoriWarring@NUMBER1EXPERT.com

Why West USA Realty? Because our goal is to serve the client – and, with our state-of-the-art systems, our service soars above the competition. First, our listing system provides our agents with Kingman, Lake Havasu City, and Bullhead City real estate listings other agencies don’t have. Then, our automated call coordinating system routes calls directly to each agent, or messages their e-mail directly, for pickup wherever they are. We are the only office open 7 days a week, until 7 pm weekdays, for your convenience. Our hiring process is rigorous, and our agents are highly trained, with specialties in relocation, investments, special needs, vacant land, etc. We attend regular meetings to keep abreast of Kingman area real estate developments. And, after serving each client, we have checklists and surveys to make sure their needs have been met. “Quality Service” is a cliché nowadays – we don’t use the term in our advertising, because our extremely high approval rating proves it every day!

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