Use this ARM calculator to estimate your initial adjustable mortgage payment.

This mortgage payment calculator provides customized information based on the information you provide. But, it assumes a few things about you. For example, that you’re buying a single-family home as your primary residence. This calculator also makes assumptions about closing costs, lender’s fees and other costs, which can be significant.

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Learn more about ARM loans.

An adjustable-rate mortgage (ARM) is a home loan that starts out with a fixed interest rate, but after a period of time that rate becomes variable. They are also called variable-rate mortgages or floating mortgages.  

Learn more about ARM loans

Check out today’s mortgage rates.

Interest rates vary depending on the type of mortgage you choose. See the differences and how they can impact your monthly payment.

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Get answers to frequently asked questions about adjustable-rate mortgages.

ARM loans often begin with a fixed-rate period that typically lasts from 5 to 10 years. After that initial period, the interest rate changes (or adjusts) periodically. The variable rate fluctuates based on a reference interest rate (for U.S. Bank, the predetermined ARM index used is either the Secured Overnight Financing Rate or the U.S. Treasury rate as published in the Wall Street Journal), plus a set amount of interest above that index (called the ARM margin).

Adjustable-rate mortgages normally have a cap that limits how much the interest rate can increase over the life of the loan, and that cap is often 5%. That means that the interest rate can never be 5 percentage points higher than the initial interest rate.

An adjustable-rate mortgage has an interest rate that varies over the life of the loan, whereas a fixed-rate mortgage carries the same interest rate for the life of the loan.

After the initial fixed-rate interest period, the interest rate changes (or adjusts) periodically. The variable rate fluctuates based on a reference interest rate (U.S. Bank uses a predetermined ARM index, either the Secured Overnight Financing Rate (SOFR) or the U.S. Treasury rate as published in the Wall Street Journal), plus a set amount of interest above that index (called the ARM margin).

SOFR ARM loans use the Secured Overnight Financing Rate (SOFR) index to determine what the interest rate does after the initial fixed-rate period. During the adjustable-rate period, the rate becomes variable based on this index and a margin set by the bank. And while the margin does not change for the life of the loan, the index can vary, going up or down every six months. All ARMs set limits on how high or low the rate may go.

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Disclosures

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. BANK is not responsible for the content, results, or the accuracy of information.

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, Home Equity and Credit products are offered through U.S. Bank National Association. Deposit products are offered through U.S. Bank National Association. Member FDIC.

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Conforming ARM loans: Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The annual percentage rate (APR) calculation assumes a $464,000 loan with a 25% down payment and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Conforming rates are for loan amounts not exceeding $766,550 ($1,149,825 in Alaska and Hawaii).

Estimated monthly payment and APR calculation are based on a fixed-rate period of seven years that could change in interest rate each subsequent year for the next 23 years, a down payment of 20% and borrower-paid finance charges of 0.862% of the base loan amount, plus origination fees if applicable. After the seven-year introductory period: the APR is variable and is based upon an index plus a margin. The APR will vary with a predetermined index as published in the Wall Street Journal. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Estimated monthly payment does not include amounts for taxes and insurance premiums. Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment.

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