Sample Mortgage Comparison

For illustrative purposes only. This page does not represent actual terms of loans available from lender.

Sample Loan Amount: $200,000 - 30 Year Term

Interest Rates for Example Purposes Only.
Mortgage Type: 
Traditional
Fixed Rate
5-Year
Interest-Only Fixed Rate
5-Year
Interest-Only Adjustable Rate
(Initial Rate 7%
Max. Rate 13%)
5/35 Adjustable Rate Balloon
(Initial Rate 7% Max. Rate 13%)
Required Monthly Payments
Years 1 - 5
$1,331
$1,167
$1,167
$1,1243
Year 6
with no rate change
$1,331
$1,414
$1,414
$1,243
Year 6
if rates rise 2%
$1,331
$1,414
$1,678
$1,525
Year 8
if rates rise 6%
$1,331
$1,414
$2,241
$2,124
Effect on Loan Balance and Home Equity
How much would you owe after 5 years?
$188,263
$200,000
$200,000
$194,545
Home Equity after 5 years of loan payments
$11,737
$0
$0
$5,455

Use this chart to discuss possible loan options with your lender.