Genisys Credit Union Mortgage Calculators


Genisys Credit Union Online Banking » Genisys Credit Union Mortgage Calculators

Genisys Credit Union mortgage calculators provide users with the ability to quickly and easily assess their current mortgage loan, as well as identify other home financing options available to them. A complete overview of the mortgages offered by Genisys can be viewed at this link.

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Rates

Representative rates for all loans offered through Genisys can be viewed here. For more information, contact a customer service representative , or visit a branch location. Mortgages can be applied for online, and over the phone at (248-322-9800). Note: Only members of Genisys or individuals who meet the requirements of membership are able to apply for a loan.

Calculators

How to Calculate

Determines how much of a mortgage an individual might qualify for, based on the following inputs:

  • Annual income
  • Purchase cost
  • Monthly payment
  • Term length (years)
  • Interest rate
  • Property tax
  • Home insurance percentage
  • Down payment amount
  • Loan origination percentage
  • Points paid
  • Closing costs (other)
  • Monthly auto payments
  • Monthly credit card payments
  • Other monthly payments (loans)

Results will automatically generate as the variables are altered/inputs are entered. Users can also click the ‘Calculate’ or ‘View Report’ buttons as well.

Generates an estimated amortization schedule for a current loan. Enter the following information:

  • Mortgage amount
  • Term length (years)
  • Interest rate
  • Type of prepayment
  • Amount
  • Start with prepayment

Although the results should automatically display as the above variables are altered, users can also press the ‘Calculate’ or ‘View Report’ buttons.

This calculator determines how long it will take to break even on a mortgage refinance, based on the following variables:

  • Original amount of loan
  • Value of appraisal

  • Original loan interest rate
  • Term length in years
  • Years remaining on term
  • Income tax rate
  • Appraisal value of new mortgage
  • Interest rate
  • Term length in years
  • Origination rate
  • Points paid
  • Closing costs (other)

Results will automatically generate as the variables are altered/inputs are entered.

Used to calculate the differences between renting a home and buying one. The following information is required:

  • Purchase price (mortgage)
  • Interest rate
  • Term length in years
  • Tax rate (property)
  • Home insurance percentage
  • Maintenance fees
  • Cash paid down
  • Loan origination percentage
  • Points paid
  • Closing costs (other)

Press the ‘Calculate’ or ‘View Report’ buttons if the results do not automatically generate.

Determines how much interest an individual might save if they increase their mortgage repayments. Enter the following information:

  • Years remaining in term
  • Original term length in years
  • Original mortgage amount
  • Extra monthly payment
  • Yearly interest rate

The results should automatically display as the above variables are altered, users can also press the ‘Calculate’ or ‘View Report’ buttons.

Helps to determine whether or not an individual should purchase points for their mortgage, based on the following inputs:

  • Amount of mortgage
  • Term length in years
  • Discount points

  • Points percentage/rate
  • Interest rate (without points)
  • Length of residence in home (years)

Results will automatically generate as the variables are altered/inputs are entered. Users can also click the ‘Calculate’ or ‘View Report’ buttons as well.

Compares between 15 and 30 year mortgages, by using the following inputs:

  • Mortgage amount
  • Marginal tax rate
  • 15 year interest rate
  • 30 year interest rate

Results will automatically generate as the variables are altered/inputs are entered. Users can also click the ‘Calculate’ or ‘View Report’ buttons as well.

Determines what the estimated monthly payment for an adjustable rate mortgage will be, based on the inputs listed below:

  • Amount of mortgage
  • Term length in years
  • Interest rate
  • Months before first adjustment
  • Months between subsequent adjustments
  • Expected adjustment percentage
  • Interest rate cap

Users can click the ‘Calculate’ or ‘View Report’ buttons if the results do not automatically display.

Used to determine how much an individual might be able to save on income taxes (through tax-deductible interest paid on a mortgage).

Enter the following information into the calculator:

  • Mortgage amount
  • Term length in years
  • Interest rate
  • Tax rate (federal)
  • Tax rate (state)
  • Origination fee percentage
  • Points paid
  • Other costs/fees (closing)

Click the ‘Calculate’ or ‘View Report’ buttons if the results do not automatically generate.

 

 

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