If you wish to figure out what you can afford for a home, you need to tally your monthly mortgage payment. You can use the Wright-Patt Credit Union, Inc. to find out your monthly mortgage amount that includes principal and interest, property taxes, and homeowner’s insurance.
Step by Step Instructions for Using the Wright-Patt Credit Union, Inc.
Wright-Patt Credit Union mortgage calculator: Basic and Advanced Inputs
Other Ways You Can Use Wright-Patt Credit Union mortgage calculator
Step by Step Instructions for Using the Wright-Patt Credit Union, Inc.
Please note that some inputs can be either manually entered in the correct box or adjusted using the sliding scale.
Enter the principal of the mortgage loan that you want.
Input the interest rate of your mortgage loan offer. It will be represented as an APR (a percentage). The calculator will show exactly how much this represents over the life of the mortgage, in dollars.
Type in the number of months you intend to pay off the mortgage. This may be the number of months stated in the loan contract. It may also be smaller if you intend to pay off the mortgage faster.
Enter any additional principal you intend to pay. It is perfectly fine if you leave this value at $0.
The Wright-Patt Credit Union mortgage calculator is sensitive enough to adjust your results in real time as you input the numbers.
Wright-Patt Credit Union mortgage calculator: Basic and Advanced Inputs
You can use an online mortgage calculator to gain insight into how much your mortgage payment will be each month. Even better, you can do so quickly by providing some basic information. It’s also possible to determine the total amount of interest you will pay over the term of the mortgage.
Inputs
In order to use the Wright-Patt Credit Union mortgage calculator, you’ll need to input the following information:
Mortgage Amount — This refers to the amount you anticipate paying for a residence.
Interest Rate — This refers to the percentage that your mortgage lender will charge for loaning you funds.
Number of Months — The time frame by which you opt to pay back your loan.
Additional Principal per Period – Any additional money added to the original loan amount.
Results
Monthly Payment – The amount of money you’ll need to pay each month to pay off your mortgage in full on time.
Total Interest Paid– The full amount of interest you’ll need to pay over the time of your loan.
Loan Amortization — This refers to a periodic loan payments schedule that highlights how much principal payments and interest payments make up each mortgage loan payment. Periodic payment amounts are equal at the beginning of the payback schedule, but most of these payments account for interest rather than principal. The amount that goes towards interest lessens with each periodic payment, which means that the amount that goes towards the principal increases with each periodic payment. The final line in the periodic loans payment schedule reveals the borrower’s interest and principal payments for the full loan term.
If there’s anything about the mortgage process that you don’t understand, you can get in touch with Wright-Patt Credit Union, Inc. to get the answers you need.
Note: It’s important to remember that the estimate will be just that…an estimate. The actual figure could be different. The estimates you get are designed to give you an idea of what you can expect to pay – but they are in no way guarantees of actual figures.
Other Ways You Can Use Wright-Patt Credit Union mortgage calculator
Many people leverage a mortgage calculator to figure out the monthly payment on a new mortgage. Even so, it can be used for other reasons as well. Examples include the following:
WPCU offers fixed rate, adjustable rate, FHA and VA^ loan products. As an equal housing lender, we're here to help you evaluate your needs and figure out which loan amount and loan option is right for you. Please contact us today to discuss your options.
Wright-Patt Credit Union's Online Banking makes life a little easier with access to your account and the ability to perform transactions whenever and wherever you're online. It's easy, convenient and free! To learn more about Online Banking, click here for an interactive demo.
WPCU is registered as a state-chartered credit union, is the largest member-owned credit union in Ohio, and is one of the 50 largest credit unions in the United States. As of February 2022, WPCU has over $7.1 billion in assets, and over 446,000 members.
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Yes. The Skip-a-Pay Program allows you to choose the month of your choice to skip one payment per calendar year on qualifying loans, such as a Wright-Patt Credit Union auto loan (business auto loans are not eligible).
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Wright State University students, faculty, staff, and Alumni. Select groups made up of people associated through employment, geographic location, or other organizational affiliation. Spouses, children, and certain other relatives of current WPCU members.
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FHA mortgages are available from FHA-approved lenders include credit unions, banks, and online lenders, which also offer conventional and other government-backed loans. At Credit Union of Southern California (CU SoCal), we make buying a home in California easy.
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An FHA loan is a type of mortgage insured by the Federal Housing Administration (FHA), which is overseen by the U.S. Department of Housing and Urban Development (HUD). While the government insures these loans, they're actually underwritten and funded by third-party mortgage lenders approved by the FHA.
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