During this period the interest rate and the monthly payment will remain fixed.
Months between adjustmentsThe number of payment periods between potential adjustments to your interest rate. You could wind up getting considerably more than you bargained for. After the initial rate period, the rate on most ARMs changes every year, every 6 months, or every month.
The rate will then adjust annually by the expected rate change. This would lead to gradually lower monthly payments. Enter 1 if you want the rate increase to begin immediately, 2 if you want it to begin at the start of year 2, and so on. How much will you save over the life of loan if you make a larger down payment. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.