Mortgage Overpayment Calculator

Mike Barker2010-03-23 10:25:02 I want to do a calculation for overpayment on a interest only mortgage? 1

MRS J WATSON2010-08-26 08:11:09 Found this very helpful, many thanks, just shows how much you can save with overpaying.
Cheers. 2

frenkstayl2010-12-15 06:19:03 One of the more common indexes used for calculating an Adjustable Rate Mortgage is LIBOR. LIBOR stands for London Interbank Offered Rate and is one of the most active rates. LIBOR would be the part of your ARM rate that will adjust and go up or down at each adjustment period, therefore increasing your decreasing your rate and payment.
In addition to the more popular 2 and 3 year fixed period Adjustable Rate Mortgages, there are also ARMs that are fixed for a 5, 7 or 10 year period, and amortized over a 30 year period.
Typically, an ARM will have a fixed period for 2 or 3 years, then will adjust after that.
Mortgage Rates 3