Download a free ARM calculator for Excel that estimates the monthly payments and amortization schedule for an adjustable rate mortgage. This spreadsheet is one of the only ARM calculators that allows you to also include additional payments. The monthly interest rate is calculated via a formula, but the rate can also be input manually if needed (i.e. overwriting the cell formula).

categories: Mortgage Calculators

ARM Calculator

for Excel
ARM Loan Calculator for Excel
For: Excel 2007 or later & Excel for iPad/iPhone

Other Versions

Template Details

License: Personal Use
(not for distribution or resale)

"No installation, no macros - just a simple spreadsheet" - by



This spreadsheet creates an amortization table and graphs for an adjustable rate mortgage (ARM) loan, with optional extra payments. Estimate the maximum interest rate and monthly payment for common fully amortized ARMs.

Note: The newest version of the home mortgage calculator does almost everything this calculator can do.

What is an Adjustable Rate Mortgage (ARM)?

There are many types of ARMs, but this spreadsheet provides a way to calculate estimated payments for a Fully Amortizing ARM (the most common type of ARM). As an example, consider a "5/1 ARM". A 5/1 ARM means the interest rate remains fixed for 5 years (60 months). After that, the interest rate can adjust at a frequency of once per year. This means that your monthly payment can change!

If a home is purchased during a period in which interest rates are extremely low, you might expect the rates to gradually increase. If a person knows they are going to sell a home after 7 years, then a 5/1 or 7/1 ARM might be desirable. If a person is going to own a home for more than 10 years, an ARM can be risky! Because they are risky, adjustable rate mortgage loans often have lower initial interest rates (which is why people seem to like them).

Another reason an adjustable rate mortgage might be desirable is if the interest rates are extremely high and a person believes that the rates are gradually going to decrease over time. This would lead to gradually lower monthly payments.

Related Content

See Also

Adjustable Rate Mortgage (ARM) Resources

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