Which is better: Fixed or adjustable-rate mortgage?

It is a difficult decision to decide between a fixed and an adjustable-rate mortgage. Factors such as loan duration, the index used by the lender, the number and timing of rate adjustments, and your assumption about the increase/decrease of future interest rates all have an impact. Use this calculator to help compare the total cost of each alternative.


This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. Result does not constitute an offer to extend credit or guarantee loan approval; is not an offer to extend credit or lock in a specific loan amount; does not account for creditworthiness or other loan eligibility factors; and does not account for all fees, escrow or insurance that may apply. Rates vary and various factors could affect your estimated monthly payment amount, and what you actually pay may be different. The calculations do not infer that Alliant assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. Please consult with qualified professionals to discuss your situation. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable, but we cannot guarantee its accuracy or outcome. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.