Mortgage Amortization Calculator - Variable Rate

Home Value: PMI:
Principal: Property Tax:
Initial Interest Rate: Insurance /mo:
Amortization Term: Start Date:
Adjustment Term Adjustment Type
Adjustment Rate

Don't ever under-estimate the difference between Fixed Rate and Variable Rate mortgage loans. A general rule of thumb - go with Fixed Rate mortgage if you believe the interest rate on mortgage loans will increase through your amortization timeframe. Vice versa, if you believe the interest rate on mortgage loans will decrease through your amortization timeframe, go with Variable Rate mortgage. You will be surprised on how much interest you can save on your mortgage! You may even end up paying your mortgage off early.

Using the Mortgage Amortization Calculator (Variable Rate)

There are several information we need from you in order for us to generate a mortgage amortization report.

  • Home Value - The value of the real estate property you are planning to purchase.
  • Loan Amount (Principal) - The amount you need to borrow from a financial institute. This is often referred to as the mortgage principal and is calculated by the difference of the home value minus your down payment.
  • Initial Interest Rate - The initial interest rate of the loan (mortgage) your financial institute is able to offer.
  • Amortization Term - The number of years it will take for you to pay off your mortgage loan. (This will change as interest rate varies while your monthly payment stays approximately the same.)
  • Adjustment Term - The number of years it will take before an adjustment is made on the interest rate. (Usually 4 years or 5 years "term")
  • Adjustment Type - What do you believe will happen to the interest rates over time?
  • Adjustment Value - The amount of increase or decrease (in percentage) on interest when an adjustment is made.
  • Start Date - The month and year of when you plan to start your mortgage payments.
  • Property Tax - Estimation of the annual property tax on the real estate property you plan to purchase. This tax is location-dependent. For example, property tax will be more expensive in the city as compared to in small towns or farm land. Property tax is usually determined by a percentage of the overall value of the home.
  • PMI - Stands for Private Mortgage Insurance. PMI is the extra insurance that the homebuyers are required to pay as long as the loan amount is more than 80% of the value of the home. Homebuyers with less than 20% in down payment will be required to pay PMI on a monthly basis. PMI is usually determined by a percentage of the value of the loan.
  • Insurance - The amount you need to pay for property insurance (often referred to as home insurance or homeowners insurance) on a monthly basis.

Mortgage Amortization Report

Once when you have entered in the required information (estimations are fine), our system will generate a detailed mortgage amortization report in seconds. In the report, it will display a summary which includes the number of payments you need to pay, monthly payments (monthly or bi-weekly), pay off date, total interest paid, total PMI paid (if applicable), total tax paid, total insurance paid, and the total amount you need to pay by the pay off date, including all of the above.

Please note that the mortgage amortization report is only meant to be used as a reference. The details of mortgage payments will be different per financial institute and local laws.


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