Adjustable Rate Mortgage Calculator

Adjustable Rate Mortgage Calculator

Adjustable rate mortgages can provide attractive interest rates, but your payment is not fixed. This calculator helps you to determine what your adjustable mortgage payments may be.

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Definitions

Adjustable Rate Mortgage (ARM)
This calculator shows a fully amortizing ARM which 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 at the frequency specified. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. 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.
Mortgage amount
Original or expected balance for your mortgage.

Starting interest rate
Initial annual interest rate for this mortgage.

Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Interest rate cap
This is the highest interest rate allowed by your mortgage. Your actual interest rate will not be adjusted above this rate.

Months before first adjustment
This is the number of months that the interest rate is fixed. After this period, the interest rate will be subject to rate adjustments. If you enter zero in this field, we assume that the rate will begin making adjustments after initial period of time between adjustments has passed. If any number other than zero is entered, the first adjustment will take place at that time, and adjustments will happen at the frequency entered in the "months between adjustments" field.

Expected adjustment
The amount you believe that your mortgage's interest rate will change. This amount will be added to or subtracted from your interest rate.

Months between adjustments
The number of payment periods between potential adjustments to your interest rate. The most common is 12 months, which means your payment could change at most once per year.

Starting monthly payment
Monthly principal and interest payment (PI) based on your beginning balance and starting interest rate.

Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.



Ameritex Mortgage, DBA of Network Funding, LP NMLS #2297

NETWORK FUNDING, LP NMLS #2297 COMPLAINTS REGARDING MORTGAGE BANKERS SHOULD BE SENT TO :

THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING

2601 NORTH LAMAR SUITE 201

AUSTIN, TX  78705

A TOLL FREE CONSUMER HOTLINE IS AVAILABLE :  877-276-5550

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS.  A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM.  FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEB SITE AT WWW.SML.TEXAS.GOV

 

 Loan Originators Texas License Information

Bryan Ely #241512, Michael Morabeto #224805, Cassandra Van Atten #271159, Darlene Porter #239841, Edwin Harris #231785, Greg Walsh #273411, Heriberito (Eddie) Garcia #239099, Maria Hernandez #314733, Randy Ikert # 210883, Lydia Saldivar #308208, Greg Damman #500418, Don Maples #265189,

 

Privacy Policy

Ameritex Mortgage is committed to protecting the privacy of our visitor's personally identifiable information. To better protect your privacy, we provide this notice explaining our online information practices and the choices you can make about the way your information is used at our site.

What Information We Collect and How We Use It

Personally Identifiable Information

When you place an order for products, information or services we collect certain types of personally identifiable information including (1) contact information, such as name, address, e-mail address, and telephone number; (2) credit card and ID verification information, such as credit card number.

We use this information to process requests for products and services. We also use collected information to communicate with you, such as to notify you (through e-mails and newsletters) about updates to products, to send you order confirmations, or to provide you with important product warranty or safety information.

In addition, we use contact information you provide to respond to your inquiries about our offerings, and to offer you, by means of e-mail or through our newsletter, additional products, programs or services that we believe may be of interest to you.

Supplementation of Information

We may, from time to time, supplement the information we collect online with outside records (e.g., information from our Strategic Partners or from wireless providers) to enhance our ability to serve you, to tailor our content to you, and to offer you opportunities to purchase products or services that we believe may be of interest to you.

Sharing of Your information

Agents and contractors who have access to personally identifiable information are required to protect it in a manner that is consistent with this Privacy Notice by, for example, not using the information for any purpose other than to carry out the services they are performing.

In addition, if you access Ameritex Mortgage through a third-party site, such as one of our Strategic Partners' sites, we also may need to report certain personally identifiable information (e.g., name and e-mail address) back to that Web site. As we explain further below in the section that follows, we will tell you at the point of collection if we will share personally identifiable information with the Strategic Partner through which you access the digital productions service.

By visiting our site and/or buying products and/or services on our site, you are accepting the practices described in this Privacy Policy and expressly agreeing to accept offers from us, our customers, and/or any third party to whom we may resell or share your information. The 3rd parties to whom we might resell or share this information include both individuals and companies engaged in the sales, marketing, advertising, and publishing industries for various products and services, as well as our shippers, carries, licensors, and/or business partners.

Our Collection of Personally Identifiable Information Through a Third-party Web Site

To provide you with content and service, we have relationships with many of the best service and content companies. As a result of these relationships, you can access Digital Productions through a third-party Web site.

Whenever you provide registration information on a co-branded page, that data may be shared with the third-party site through which you access Ameritex Mortgage. We encourage you to read the privacy policies of such third parties, as this Notice does not cover their use of information Non-Personally Identifiable Information
We may collect certain non-personally identifiable information about our visitors when you visit many of our Web pages such as the type of browser you are using (e.g., Netscape, Internet Explorer), the type of operating system you are using, (e.g., Windows '98 or Mac OS) and the domain name of your Internet service provider (e.g., America Online, Earthlink).
We use the non-personally identifiable information that we collect to improve the design and content of our service pages and to enable us to personalize your Internet experience. We also may use this information in the aggregate to analyze service usage.

Legal Process/Disclaimer

We may disclose personally identifiable information in response to legal process or when we believe in good faith that the law requires it, for example, in response to a court order, subpoena or a law enforcement agency's request

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If you prefer not to receive marketing information or wish to fully deactivate your account information from us, simply let us know by sending a letter via certified mail to:

Ameritex Mortgage

1111 W. Mockingbird Lane #810

Dallas, TX  75247

Please note that even if you chose to opt out we will may continue to send you important service-related communications (e.g., order confirmation or product safety information). However, these are not promotional in nature.



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We use cookies to understand site usage and to improve the content and offerings on our sites. If you set your browser not to accept cookies, you will still be able to use our site.

Links

In addition, our site contains links to other Web sites whose information practices may be different than ours. Our privacy policy does not cover these third parties' use of information. Visitors should consult the other companies' and sites' privacy notices as we have no control over information that is submitted to, or collected by, these third parties.

Security

We have put in place appropriate physical, electronic, and managerial procedures to safeguard and help prevent unauthorized access, maintain data security, and correctly use the information we collect online.


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