
LOANS & CREDIT
Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
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/loan-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.
MORTGAGE LOANS
Affordable, Flexible Programs
As an important financial decision, you can turn to us for funding when purchasing or refinancing a home. Our experienced and friendly mortgage professionals are ready to help find a loan that's just right for you with:
- Personal service
- Competitive rates
- Flexible underwriting
- Low closing costs
- Ease of application
- Lot sizes up to 15 acres
Fixed Rate Mortgages
Choose from Conventional and VA fixed rate mortgage loans with any budget fitting term up to 30 years. Want to avoid paying Private Mortgage Insurance? We can help you decide which option is best for your situation.
Adjustable Rate Mortgages
We offer several different adjustable rate mortgage programs to meet your needs. These loans feature our lowest initial rates with fixed rate periods of up to seven years are available.
First-Time Homebuyer Mortgages
If you are purchasing your very first home, our First-Time Homebuyer programs could be the perfect way to get started. We offer options with fixed or adjustable rates, as well as low or no down payment. Home ownership counseling may be required for some programs.
Pledge Program
If you have savings to use as collateral, your loan amount can be for 100% of the purchase price. A VUCU certificate account of your choice is pledged as additional collateral. You get the benefit of more favorable loan terms while continuing to earn interest on the account and avoiding early withdrawal penalties.
Mortgage Loan Request
For more information, call 615-936-0300.
For additional consumer information from the Federal Reserve.
All loans are subject to credit approval and appraised value of the house. Payment includes principal and interest. Check with your tax advisor about tax deductibility of interest. VCU is an Equal Housing Lender.