Whether you are ready to purchase a home or build a new one, Affinity First FCU is here to help! We offer a variety of real estate loans to fit your specific needs. If you are interested in our real estate loans, please call or stop in to make an appointment today!
NMLS # 809436
Whether you’re ready to purchase your first home or need a new one to accommodate a growing family, there’s never been a better time! Our mortgage loan officers have the knowledge and experience to make the process go quickly and smoothly. Affinity First FCU also offers refinancing options and now is a perfect time with rates as low as they have been in years.
Mortgage Calculator Help
You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.
If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.
Or if you know the price of the real estate and the loan amout and enter “0” for the down payment percentage, the calculator will calculate the down payment amount and percentage.
Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.
If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)
Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender “points” up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.
The term (duration) of the loan is expressed as a number of months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking “Save changes” will cause the calculator to reload. Your edits will be lost.
Your home is your greatest asset – why not put it to work for you? If you have enough equity in your home, you can use it to secure a line of credit with Affinity First FCU. A home equity loan gives you the flexibility to use your funds as the need arises. Remodel your home, make emergency repairs or take that dream vacation – the possibilities are endless!
*AFFCU membership required. Estimated closing costs range from $250.00 to $2,500.00. Closing costs may vary based on loan amount, property location, appraisal cost and title insurance required. Loans subject to credit approval. Rates subject to change without notice. Some restrictions apply.
If building your own home is a dream for you, let Affinity First FCU help make it happen. Our construction loans offer affordable payments and excellent rates. You can count on Affinity First FCU to help make this process easy and smooth. To get started on making your dreams a reality, give us a call today.
Whether it’s your first home or a retirement refuge, we have the solution. If you are looking at a new or pre-owned mobile or manufactured home, let Affinity First help you with affordable financing. Our professional loan officers will help you find the perfect fit.