ÿþ<HTML> <HEAD> <TITLE>Adjustable Rate Mortgage Calculator</TITLE> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso8859-1"> <META NAME="description" CONTENT="Financial Calculators, ©1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net"> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <!-- Financial Calculators, ©1998-2008 KJE Computer Solutions, LLC. 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For more information please see: <A HREF="http://www.dinkytown.net">http://www.dinkytown.net</A> --> <H1>Adjustable Rate Mortgage Calculator</H1><P>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. <P><CENTER> <!--[if IE]><object name="calculator" classid="clsid:8AD9C840-044E-11D1-B3E9-00805F499D93" codebase="http://java.sun.com/update/1.6.0/jinstall-6-windows-i586.cab#Version=1,4,0,0" height="380" width="565"><param name="code" value="MortgageAdjustable" /><param name="archive" value="dinkytown.jar" /> <P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]--><![if !IE]><P style="font-size:1px; color: #ffffff" line-height: 1px><![endif]></P><![if !IE]><APPLET name="calculator" code="MortgageAdjustable.class" align="baseline" WIDTH="565" HEIGHT="380" archive="dinkytown.jar"><![endif]> <PARAM name="INTEREST_RATE" value="5.00"> <PARAM name="TERM" value="30"> <PARAM name="ADJUSTABLE_RATE_FIXED" value="60"> <PARAM name="TERM_SHOW_ADDITIONAL" value="12"> <PARAM name="LOAN_AMOUNT" value="100000"> <PARAM name="ADJUSTABLE_RATE_CAP" value="12.0"> <PARAM name="ADJUSTABLE_RATE_FEQ" value="12"> <PARAM name="ADJUSTABLE_RATE_INCR" value="0.25"> <PARAM name="MSG_ADJUSTABLE_RATE_INCR" value="Expected adjustment"> <PARAM name="ENABLE_ADJUSTABLE_RATE_FEQ" value="true"> <PARAM name="ENABLE_ADJUSTABLE_RATE_CAP" value="true"> <PARAM name="USE_SPECIAL_TERMS" value="FALSE"> <PARAM name="ADJUSTABLE_AFTER_FIRST_ADJ" value="TRUE"> <!-- Following only used if USE_SPECIAL_TERMS set to TRUE --> <PARAM name="TERM1" value="30"> <PARAM name="TERM2" value="30"> <PARAM name="TERM3" value="30"> <PARAM name="TERM4" value="30"> <PARAM name="TERM_FIXED1" value="10"> <PARAM name="TERM_FIXED2" value="7"> <PARAM name="TERM_FIXED3" value="5"> <PARAM name="TERM_FIXED4" value="3"> <PARAM name="MSG_TERM1" value="10/1 ARM"> <PARAM name="MSG_TERM2" value="7/1 ARM"> <PARAM name="MSG_TERM3" value="5/1 ARM"> <PARAM name="MSG_TERM4" value="3/1 ARM"> <!--CUSTOM PARAMETERS--> <PARAM name="TEXT_FOR_REPORT" value="<HTML> <HEAD> <TITLE>Adjustable Rate Mortgage Calculator</TITLE> <META HTTP-EQUIV='Content-Type' CONTENT='text/html; charset=iso8859-1'> <META NAME='description' CONTENT='Financial Calculators, &QCPQ;1998-2010 KJE Computer Solutions, LLC. For more information please see http://www.dinkytown.net'> <STYLE> <!-- BODY, TABLE, TD, TH, UL, OL, DD, DL, P, BR { font-family: helvetica, arial, sans-serif; font-size: 10pt; } H1 { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } DT { font-family: helvetica, arial, sans-serif; font-size: 10pt; font-weight: bold; } P.footer { font-family: helvetica, arial, sans-serif; font-size: 9pt; } DIV.large { font-family: helvetica, arial, sans-serif; font-size: 13pt; font-weight: bold; } --> </STYLE> </HEAD> <BODY bgcolor='#FFFFFF' LINK='#003399' VLINK='#666666' BGCOLOR='#FFFFFF'> <CENTER><table border=0 bgcolor='#000000' width=468 cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFDD' border=0 width=468 cellspacing=1 cellpadding=5><tr><td width='100%' align=center valign=middle><DIV class=large>How much will adjustable rate mortgage payments be?</DIV></td></tr></table></TD></TR></TABLE></CENTER> <H1>Your starting monthly payment is MONTHLY_PI.</H1> Your adjustable rate loan of LOAN_AMOUNT for TERM years has a starting payment of MONTHLY_PI. Your interest rate remains fixed at INTEREST_RATE for ADJUSTABLE_RATE_FIXED months, after that time your interest rate is expected to change by ADJUSTABLE_RATE_INCR every ADJUSTABLE_RATE_FEQ months. Your highest monthly payment, in this scenario, would be ADJUSTABLE_RATE_HIGHEST. <P> <CENTER>ADJUSTABLE_PAYMENT_AMTS</CENTER> <P> **GRAPH** <H1>Mortgage Summary</H1><CENTER><table border=0 bgcolor='#000000' width=95% cellspacing=1 cellpadding=0><tr><td width='100%'><table bgcolor='#FFFFFF' border=0 width=100% cellspacing=1 cellpadding=5> <TR BGCOLOR='#CCCCCC'><TD COLSPAN=2><CENTER><B>Mortgage Information</B></CENTER></TD></TR> <TR><TD><b>Loan amount</b></TD><TD>LOAN_AMOUNT</TD></TR> <TR><TD><b>Term</b></TD><TD>TERM years</TD></TR> <TR><TD><b>Starting Interest rate</b></TD><TD>INTEREST_RATE</TD></TR> <TR><TD><b>First monthly payment</b></TD><TD>MONTHLY_PI</TD></TR> <TR><TD><b>Interest rate cap</b></TD><TD> ADJUSTABLE_RATE_CAP</TD></TR> <TR><TD><b>Expected adjustment</b></TD><TD>ADJUSTABLE_RATE_INCR</TD></TR> <TR><TD><b>Rate remains fixed for</b></TD><TD>ADJUSTABLE_RATE_FIXED months</TD></TR> <TR><TD><b>Periods between adjustments</b></TD><TD>ADJUSTABLE_RATE_FEQ months</TD></TR> <TR><TD><b>Total payments</b></TD><TD><B>TOTAL_OF_PAYMENTS</B></TD></TR> <TR><TD><b>Total interest</b></TD><TD><B>INTEREST_PAID</B></TD></TR> </TABLE></TD></TR></TABLE> </CENTER> <P><DIV class=large>Payment schedule</DIV> <HR SIZE=1> **REPEATING GROUP** <BR> <HR SIZE=1> <CENTER><P class=footer> Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not 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. </P></CENTER><br><br> </BODY> </HTML> "> <H1><CENTER>This Financial Calculator requires SUN's Java"! Plug-in. If you see this message you will need to download SUN's Java"! Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing  Install ActiveX Control . </CENTER></H1> <OL> You can also get SUN's Java"! Plug-in here: <A href="http://www.java.com/en/download/download_the_latest.jsp" target=_blank><b>Get the Java"! Plug-in!</b></A> <P>For more information about this Plug-in please visit: <A href="http://www.dinkytown.net/money/sunjvm.html" target=_blank><b>SUN's Java"! Plug-in</b></A> <BR>For more information these financial calculators please visit: <A href="http://www.dinkytown.net" target=_blank><b>Financial Calculators from KJE Computer Solutions, LLC</b></A> </OL><!--[if IE]></OBJECT><![endif]--><![if !IE]></APPLET><![endif]> </CENTER><CENTER><SCRIPT>document.write(showbuttons())</SCRIPT> </CENTER> <H1>Definitions</H1><P><TABLE align='center' WIDTH="95%"><TR><TD><DL><!--DEFN_START--> <DT><B>Adjustable Rate Mortgage (ARM)</B><DD>This calculator shows a fully amortizing ARM which is the most common type of ARM. The monthly payment is calculated to payoff the entire mortgage balance at the end of the term. The term is typically 30 years. After any fixed interest rate period has passed, the interest rate and payment adjusts at the frequency specified. A Fully Amortizing ARM will also have a maximum rate that it will not exceed. Below is a list of the most common types of Fully Amortizing ARMs.<P> <CENTER> <TABLE width=80% border=1> <TR bgcolor="CCCCCC"><TH colspan=2>Common Adjustable Rate Mortgages</TH></TR> <TR><TH width=50%>ARM Type</TH><TH width=50%>Months Fixed</TH></TR> <TR><TD width=50% align=center>10/1 ARM</TD><TD width=50% align=left>Fixed for 120 months, adjusts annually for the remaining term of the loan.</TD></TR> <TR><TD width=50% align=center>7/1 ARM</TD><TD width=50% align=left>Fixed for 84 months, adjusts annually for the remaining term of the loan.</TD></TR> <TR><TD width=50% align=center>5/1 ARM</TD><TD width=50% align=left>Fixed for 60 months, adjusts annually for the remaining term of the loan.</TD></TR> <TR><TD width=50% align=center>3/1 ARM</TD><TD width=50% align=left>Fixed for 36 months, adjusts annually for the remaining term of the loan.</TD></TR> </TABLE> </CENTER> </DL> <DL> <DT><B>Mortgage amount</B><DD>Original or expected balance for your mortgage.<P> <DT><B>Starting interest rate</B><DD>Initial annual interest rate for this mortgage.<P> <DT><B>Term in years</B><DD>The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.<P> <DT><B>Interest rate cap</B><DD>This is the highest interest rate allowed by your mortgage. Your actual interest rate will not be adjusted above this rate.<P> <DT><B>Months before first adjustment</B><DD>This is the number of months that the interest rate is fixed. After this period, the interest rate will be subject to rate adjustments. If you enter zero in this field, we assume that the rate will begin making adjustments after initial period of time between adjustments has passed. If any number other than zero is entered, the first adjustment will take place at that time, and adjustments will happen at the frequency entered in the "months between adjustments" field.<P> <DT><B>Expected adjustment</B><DD>The amount you believe that your mortgage's interest rate will change. This amount will be added to or subtracted from your interest rate.<P> <DT><B>Months between adjustments</B><DD>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.<P> <DT><B>Starting monthly payment</B><DD>Monthly principal and interest payment (PI) based on your beginning balance and starting interest rate.<P> <DT><B>Total payments</B><DD>Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.<P> <DT><B>Total interest</B><DD>Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal. <!--DEFN_END--></DL></TD></TR></TABLE> <BR> <HR SIZE=1> <CENTER> <P class=footer> Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not 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. </P></CENTER> <BR> </BODY> </HTML>