The best of life happens at home.

Your home is your private sanctuary, where you make the rules, even in fuzzy slippers and lounge pants. Your home should reflect who you are and have comfortable payments. We can help. 🏠

You’ve got options.

Home-buying Options

First-time homebuyers • Conventional
FHA/VA • MBOH • 5/5/5 ARM
Modular or Mobile Home

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Bridge Loan

Use the equity in the home you’re selling to borrow against for a down payment on the home you’re buying.

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Equity Builder

Zero Down (yeah, you read that right: 100% financing and NO DOWN PAYMENT required – some restrictions apply though.)

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Planning? We’ve got a calculator for that.

Which mortgage option is best for my budget?

Use this calculator to compare the total cost of any 2-3 mortgage options.

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How much will my fixed rate mortgage payment be?

Compute the payments (principal and interest) for a fixed rate loan.

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Is it better for me to rent or to buy a home?

Calculate to compare the cost of renting versus the real cost of buying a home.

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What’s the interest savings from a higher mortgage payment?

Compute the impact of extra mortgage payments on the total interest paid.

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How much mortgage might I qualify for?

Calculate with your total monthly gross income and monthly expenses.

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How much home can I afford?

This calculator computes the most expensive house you can buy based on the highest payment you can afford.

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Should I refinance?

When you refinance at a lower interest rate, you usually pay refinancing costs including points, fees, and closing costs. This calculator will tell you if the amount you save in interest will exceed these refinancing costs. The calculated results depend on how long you plan to keep this property.

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Calculator Results

Refinancing will immediately cost you $5,550.00 to cover the loan origination fees. It will take 47 months before the savings in interest offsets the origination fees. If you plan to stay at this property for 15 years, you will save $9,787.32.

Financial Details

Loan Info

Current Loan

Refinance

Savings

Monthly Payment

$2,321.60

$2,236.42

$85.18

Origination Cost

$5,550.00

($5,550.00)

Total Loan Cost (PV)

$480,567.44

$470,780.12

$9,787.32

Calculator tips

In this analysis, cash out is not considered as part of the cost of the loan since the cash could theoretically be put back into the loan.

Your tax rate is used to calculate the monthly advantage of your interest deduction. If you wish not to include the interest deduction advantage, you may set your tax rate to 0. Please keep in mind that your tax deduction may be limited beyond the scope of this calculator. Talk to your tax advisor before using these results in your specific situation.

The total loan cost figure is actually the present value of all the payments for as long as you keep this property, using the investment rate of return as a discount rate. You may also think of it as the amount you would have to invest today (e.g., in a savings account) to cover all the payments for as long as you keep this property. Negative savings are indicated by brackets.

Calculator disclaimer

The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.

Presented by TimeValue Software ©2024

Home equity options

A home equity is handy for unexpected expenses, like when you accidentally put the wrong soap in the washing machine and have an instant foam party (not that you’d do that). A home equity loan can pay for planned events (like a pool party when you’re missing, say…the pool).

Loans  •  Lines of Credit  •  Interest Only

Home Loan FAQs

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Disclosures

It is the policy of Altana Federal Credit Union to comply with all fair lending laws and regulations, including the Equal Credit Opportunity Act (ECOA), the Home Mortgage Disclosure Act (HMDA), the Fair Credit Reporting Act (FCRA), and the Fair Housing Act. In addition, the Credit Union adheres to federal regulatory agency fair lending guidance as set forth in the Interagency Policy Statement on Discrimination in Lending. Under the Equal Credit Opportunity Act (ECOA), it is illegal to discriminate in any credit transaction on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), applicant’s receipt of public assistance income, and/or the applicant’s exercise of any right under the Consumer Credit Protection Act.