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With an adjustable-rate mortgage (ARM), your loan will have an initial fixed-rate period. After the fixed-rate period, your interest rate will adjust up or down according to market rates at the time of reset.

Lifetime Rate Cap 5%

Yearly Adjustment Cap 2%

First Adjustment Rate Cap 2%

ARM Index 2.666%

ARM Margin 2.25%

Great option if you're looking for a lower interest rate.

Lower interest rates could help you build equity in your home faster than other options.

Best for people looking to stay in their homes for a shorter time.

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30-Year Fixed FHA

3.875%

4.885% APR

Great option for lower monthly payments and fewer credit restrictions.

You don't have to be a first-time homebuyer to be considered eligible.

Best for people looking to stay in their home for a longer time.

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Lifetime Rate Cap %

Yearly Adjustment Cap %

First Adjustment Rate Cap %

ARM Index %

ARM Margin %

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Mortgage rates could change daily.
Actual payments will vary based on your individual situation and current rates.
Some products may not be available in all states.
Some jumbo products may not be available to first time home buyers.
Lending services may not be available in all areas.
Some restrictions may apply.
Based on the purchase/refinance of a primary residence with no cash out at closing.
We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
The lock period for your rate is 40 days.
The loan to value (LTV) ratio is 75%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call to talk to one of our mortgage experts.

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30-Year Fixed-Rate Mortgage: The payment on a $200,000 30-year Fixed-Rate Loan at 4.25% and 75.00% loan-to-value (LTV) is $983.88 with 2.125 points due at closing. The Annual Percentage Rate (APR) is 4.529%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. Adjustable-Rate Mortgage: The initial payment on a 30-year $200,000 5-year Adjustable-Rate Loan at 3.75% and 75.00% loan-to-value (LTV) is $926.24 with 3.125 points due at closing. The Annual Percentage Rate (APR) is 4.828%. After the initial 5 years, the principal and interest payment is $926.24. The fully indexed rate of 4.875% is in effect for the remaining 25 years and can change once every year for the remaining life of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rate is variable and subject to change after 5 years. FHA Loan: Rate is fixed. The payment on a $203,500, 30-year fixed rate loan at 3.875% and 76.22% loan-to-value (LTV) is $1089.18 with 2 Points due at closing. Payment includes a one time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and a monthly MIP calculated at 0.80% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of less than or equal to 90%, the 0.80% monthly MIP will be paid for the first 11 years of the mortgage term, or the end of the mortgage term, whichever comes first. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments only until the end of the loan. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. The Annual Percentage Rate (APR) is 4.885%.

¹Based on Quicken Loans data in comparison to public data records.

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PowerPack^SM Can Help Save You Thousands on Your Next Home

When you buy, sell and/or finance a home with Rocket Homes^SM and Quicken Loans^®, you'll get:

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