Predicting ARM Payments

If you thought you were getting a great deal with an adjustable rate mortgage a few years back, you might be having second thoughts. Rates are up, which means month payments are going up as well. Many people are unprepared for this. To avoid a shock, your best approach is to get out your loan agreement and figure out how much and how often your rate can go up. Use an online mortgage calculator to determine what the increased payments will be and start tweaking your finances accordingly.