Should I take out a fixed or adjustable-rate mortgage?

So many mortgage decisions, so many different financial outcomes. Each one will affect your monthly budget. How do you know which choice to make? Enter the requested information into the LGFCU calculator below, and we’ll show you the way.
Mortgage Alternatives and Assumptions
Loan amount ($) 
Fixed-Rate LoanAdjustable-Rate Loan
(Initial) annual interest rate
Number of years
Index Rate Detail
Current index rate (%)help
Lenders margin added to index rate (%)help
Index rate adjustment (%)help
Number of months between index rate adjustments 
What will rates be doing over the life of the loan: stay same, increase or decrease? 
Assumed maximum annual rate adjustment (%) 
Adjustable Rate Detail
Absolute minimum rate over term of loan (%) 
Absolute maximum rate over term of loan (%) 
Number of months before first rate adjustments 
Number of months between rate adjustments 
Comparison Assumptions
Comparison options/cost of moneyhelp
Marginal tax bracket (%)help
Years to compare total costs: 
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DocuMatix , LLC and LGFCU do not assume any fiduciary duties or provide investment advice when you use the calculators and you are encouraged to seek professional financial and legal advice when making financial decisions. Calculations provided may differ from calculations provided by other institutions or advisors. DocuMatix , LLC and LGFCU disclaim all warranties with respect to the calculator and use thereof including any implied warranties of fitness for a particular purpose or merchantability. DocuMatix , LLC and LGFCU shall not be liable for any direct, indirect, incidental, consequential, punitive or other damages suffered by you due to your use of the calculator, including loss of profits. You agree to indemnify, defend and hold harmless DocuMatix , LLC and LGFCU from and against all claims, damages and liabilities related to your use of the calculator.

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