Teachers Federal Credit Union Mortgage Calculators


TFCU Online Banking » Teachers Federal Credit Union Mortgage Calculators
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Teachers Federal Credit Union mortgage calculators offer users a way to quickly and accurately compare, determine, and ultimately decide which options are the most financially viable in regards to home financing.

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Rates

Because interest rates are determined by a number of various factors, interested individuals should apply online, over the phone, or by visiting a bank location in order to receive the most accurate interest rate percentage information. A more detailed overview of interest rates and associated information can be found at this link.

Calculators

How to Calculate

This calculator can be used to determine the approximate amount and number of monthly payments required in order to pay a particular loan off. The following fields must be filled out:

  • Amount of mortgage
  • Term length (years)
  • Interest rate percentage
  • Property taxes (annual)
  • Home insurance cost (annual)
  • Amortization (annually or monthly)

This calculator will automatically generate results as the variables are altered.

Individuals interested in comparing the various features as well as drawbacks between 15 year and 30 year loans can use this calculator to provide them with a quick and straightforward method to calculate these differences. Alter the following inputs:

  • Amount of mortgage
  • Tax rate (marginal)
  • Interest rate (15 years)
  • Interest rate (30 years)

Results will be displayed as the above variables are changed. Alternatively, users can click on the ‘Calculate’ button located directly above the calculator.

Used to determine the approximate amount of potential savings that an individual can accrue if they refinance their mortgage. Users must enter the following:

  • Amount of loan (original)
  • Value of appraisal
  • Interest amount (original)
  • Term length (years)
  • Time remaining on term (years)
  • Tax rate (income)
  • Amortization (annually or monthly)

This calculator automatically displays the results as the above fields are filled out.

Although buying points can lower interest rates, they can also increase the percentage of an individual’s mortgage balance. Use this calculator to determine whether purchasing mortgage points is a financially sound decision to make. The following variables must be altered:

  • Amount of mortgage

  • Term length (years)
  • Discount points
  • Points rating (percentage)
  • Interest rate (without points)

The calculator will automatically generate results as inputs are altered.

Used to determine whether renting or buying is the better option, in regards to home financing. Fill out the following fields:

  • Home purchase cost

  • Interest rate
  • Term length (years)
  • Property tax rate (percentage)
  • Home insurance
  • Other fees (association, maintenance, etc)
  • Amortization (annually or monthly)

Results will be displayed as the above variables are changed.

Used to determine whether debt consolidation is a viable home financing option, based off of the following variables:

  • Credit card debt (balance and interest rate)

  • Vehicle loan debt (loan amount, interest rate, payment)
  • Other loans/debt (loan amount, interest rate, payment)
  • Balance of consolidated loan
  • Payment for consolidated loan
  • Interest rate (consolidated)
  • Term length (months/years)

This calculator automatically displays the results as the above fields are filled out.

 

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