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Welcome > Resources > Mortgage Calculators >
Adjustable Rate Mortgages ...
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.
Definitions
- 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.
- 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.
The mortgage calculators are provided by KJE Computer Solutions, LLC and made available to NUMBER1EXPERT as self-help tools for your independent use and are not intended to provide investment advice. We can't guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
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Real Estate Contracts >The Sales Price
After your search for a house and all the negotiations are over, you arrive at the the sales price. Finally, you feel some certainty about your bottom line. However, it is not unusual for there to be disagreements about what is included in the sales price. Careful drafting of the paperwork can help to avoid future disputes.
The following definitions may help. Real property is land and any permanent attachments, such as buildings, landscaping and fences. Personal property consists of movable possessions, such as furniture and clothing. A fixture is defined as an item of personal property which has become part of the real property by virtue of becoming permanently attached, such as a new sink, a Jacuzzi, or a chandelier.
The principal area of dispute about the sales price often relates to fixtures. Most preprinted real estate contracts will provide space for the fixtures to be listed. Whether you are selling or buying, you should make use of this space. Do not assume curtains, satellite discs, antennas or fireplace equipment come with the house. You should also make it very clear what you don't want left on the property. If you are specific about every item that may be questionable, you will greatly reduce the chances of a dispute after the closing.
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| Q |
What area in the U.S. is known for its pre-civil war mansions?
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| A |
Natchez, Mississippi boasts over 500 pre-civil war-style mansions; many are open to the public as museums. |
 See More Real Estate Trivia > |
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