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See your introductory payment and what your payment becomes after the rate adjusts.
We amortize the loan at the intro rate, capture the remaining balance after the intro period, then re-amortize the rest of the term at the new rate.
If you'll move or refinance before the intro period ends, an ARM's lower intro rate can save money. The risk is being stuck through the adjustment.
After the intro period, the rate resets to an index (like SOFR) plus a margin, subject to periodic and lifetime caps.
Five years of intro rate, then adjusts every 1 year. 7/6 ARMs adjust every 6 months after a 7-year intro.
Yes — without caps, payments could jump several hundred dollars. Caps limit how much the rate (and payment) can rise per adjustment and over the loan's life.
Yes, for the intro period stated in your note.
Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.
Last updated October 2026