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How Can TDECU’s Calculators Help You on Your Financial Journey?

TDECU has various financial calculators on our website, but not all are intuitive. The team that produced the calculators has developed ways for you to use the TDECU financial calculators best.

How Can TDECU’s Calculators Help You on Your Financial Journey?

Auto Loan Calculators

85% of newly purchased vehicles are financed, and auto loans account for $1.3 trillion of American families’ debt. At TDECU, we want to help you on your financial journey, and part of that is helping you make informed decisions on the loans you are considering and have already acquired. We offer five auto loan calculators to cover a wide variety of your needs.

How much will I pay for my auto loan?

Cars are bought at a purchase price, the entire vehicle value. But a value of $25,000 does not reflect your monthly car payment. This calculator uses the purchase price, sales tax, title and registration cost, depreciation, down payment, and interest rate, to determine how this loan will impact your monthly bottom line.

How much car can I afford?

Based on a monthly car payment, it is possible to determine the maximum sticker price you can afford. By using the Vehicle Affordability Calculator, which includes loan terms, interest rates, monthly loan payments, and info about your current vehicle, you can determine the maximum purchase price of your next vehicle and what you can reasonably afford.

Auto rebate vs. low-interest financing

Some dealerships or manufacturers offer low-interest rates or rebates when purchasing a new vehicle. Figuring out which has the most impact on reducing your monthly and total loan payments can save you money over the term of your loan. To use the Auto Rebate vs. Low Interest Financing Calculator, you will need the purchase price, down payment, cash rebate, and special interest rate to determine which option saves you the most.

Should I accelerate my auto payments?

Paying extra each month can reduce the overall amount of car loan interest paid, resulting in the loan being paid off early. Our Accelerate Auto Payment Calculator will show you just how much the extra payments impact your bottom line. Using the original loan balance, loan term, interest rate, and how much you would like to put towards an extra monthly payment, you can estimate your savings quickly and easily.

Should I buy or lease?

One of the most important decisions when looking for a new vehicle is whether it is best to lease or buy. Between looking at purchase price, monthly fees for renting, and a few other factors, the Buy or Lease Calculator quickly determines whether buying or leasing makes the most financial sense.

Credit Card Calculators

Texans have, on average, $6,996 in credit card debt, and have approximately five credit cards per person. TDECU wants to ensure you are not one of the 7.20% of Texans 30 days behind in their credit card payment or 6.60% of cardholders with a maxed-out credit card. We offer two credit card calculators to help manage your credit card debt.

Credit card payoff calculator

It can be difficult to determine how much it will cost to pay off your credit card, but the math is done for you with TDECU’s Credit Card Pay-Off Calculator.  Using your current balance, monthly charges and payments, interest rate, and when you want to pay your card off, you can determine how quickly you will pay off your credit card or how much you need to pay each month to pay it off within a set time.

Debt consolidation calculator

Having multiple sources of debt can make determining how much is truly owed difficult. TDECU’s Debt Consolidation Calculator allows up to ten loans to be added to establish the monthly payment required before and after debt consolidation and the amount of interest that would be paid with both options.

Loan Calculators

With median Texas student loans increasing by 43% between 2006 and 2018 and other loan sources rising, it can become difficult to figure out the best approach for paying off your loans. Between paying recommended amounts, extra payments, and consolidating debt, TDECU’s loan calculators can provide the knowledge needed to plan for your financial future.

How long will it take to pay off my loan?

Planning for your financial future involves understanding when your current debt is scheduled to be paid off. With the Loan Payoff Calculator, you can determine the total paid amount and interest by using your current balance, monthly payment, and interest rate. And most importantly, you will learn when your loan will be paid off. Use this calculator to understand how to allocate your monthly budget best.

Can I afford my monthly loan payment?

Most loans have a timeframe in which a loan must be paid off, called the loan term, in addition to, or instead of, a required monthly payment. By inputting your loan amount, loan term, interest rate, and payment frequency, TDECU’s Loan Payment Calculator will estimate your monthly payment and total interest paid.

How will extra payments affect my loan?

Paying a larger monthly loan payment reduces the total interest paid and shortens the period you must make monthly payments. By using the Extra Payment Calculator and inputting your loan balance, term, interest rate, and extra monthly payment, you can quickly see how an extra monthly payment will impact your loans.

Mortgage Calculators

Buying a home is the most expensive purchase most people will ever make. TDECU’s eight mortgage calculators can help you make informed decisions on this important purchase. Whether you are buying your first home, or upgrading to your forever home, our calculators can help.

How much home can I afford?

It can take time to determine what price point you should look for when searching for a home. Using our Mortgage Affordability Calculator, you can use your monthly wages, monthly debt payments, and mortgage information to determine your recommended home value

Compare mortgages

With multiple types, term lengths, interest rates, and a host of other variables, figuring out which home loan makes the most sense financially can involve a lot of math. TDECU’s Mortgage Comparison Calculator helps you determine your monthly payments and the total interest paid over the loan term.

How much will I pay for my mortgage?

Home loans and mortgage financing can be confusing, especially if you are new to the home-buying process. Using the loan amount, loan type, interest rate, and other expenses, TDECU’s Mortgage Payment Calculator can determine your estimated monthly payment.

Should I pay discount points?

Discount points, which are prepaid interest, will save you in the long run. TDECU’s Discount Point Calculator estimates the savings you would receive throughout your mortgage loan.

What is the Loan to Value Ratio of my home?

The loan-to-value ratio is a method for financial institutions to determine risk when approving a mortgage by comparing the equity you have in your home to the amount you have loaned. The lower a loan-to-value ratio is, the better. TDECU’s Loan to Value Ratio Calculator will work for you and determine your ratio.

Should I refinance my home?

There are multiple reasons to refinance your home: lower your monthly payment, consolidate debts, or upgrade your property. TDECU’s Mortgage Refinance Calculator can estimate how much you can save by refinancing your home.

Should I make extra payments on my mortgage?

Increasing your monthly payment by as little as $100 a month can save thousands in total interest paid and shrink the term of your loan. By inputting information about your current mortgage and plans for extra monthly payments, TDECU’s Mortgage Extra Payments Calculator will estimate how much you can save.

How much down payment should I make on my new home?

Your down payment can significantly impact your monthly payment and total interest paid. Using TDECU’s Mortgage Down Payment Calculator can help you make informed decisions on your down payment based on your mortgage information

Retirement Calculators

TDECU and TDECU Wealth Advisors want to ensure you are set up to succeed in your retirement years. Between starting early and planning your strategy to gain a comfortable nest egg, TDECU’s five retirement calculators can assist you in planning your retirement.

How much will I need to save for a comfortable retirement?

Determining how much you need to retire is a difficult number to calculate. Using factors such as your age, financial information, and retirement information, TDECU’s Retirement Planning Calculator estimates your income needed and savings at retirement.

How long will my savings last into retirement?

With retirement lasting longer than ever before, it is best to know how long your retirement funds will last you. TDECU’s Retirement Savings Calculator uses retirement income requirements, expected retirement income, and current savings information to estimate how long your savings will last.

How will inflation affect my retirement savings and income?

Inflation is currently at the top of a lot of people’s minds. TDECU’s Inflation Calculator, with the input of your age and income, can determine the retirement income at your retirement age and life expectancy.

How much can I save with a 401(k)?

Do you know how much your yearly 401k contribution will add up to at retirement? By inputting your current and retirement age into the 401(k) Savings Calculator, plus your income and 401(k) balance information, a value can be estimated.

Which 401(k) investment option will give you the best returns?

Determining which type of retirement fund, Roth or Traditional, is best for you can be difficult. Using TDECU’s Comparison Calculator, you can estimate which type of retirement will result in the highest income during retirement.

Savings Calculators

Your financial journey is important to us, and we want to enable you to save for your future. Using TDECU’s six savings calculators, you can determine and reach your savings goals.

How long until I reach my savings goal?

Interested to see how quickly your savings will grow? TDECU’s Savings Goal Calculator uses your current savings balance and savings goal to determine how long it will take to achieve your financial goals.

How can I save for a big-ticket item?

Are you saving up for a boat? Or a new car? Or something else? You can use TDECU’s Large Expense Savings Calculator to determine how much you need to invest each month to reach your goal.

How long will it take to be a millionaire?

Is it one of your financial dreams to become a millionaire? TDECU’s Million Dollar Savings Calculator can help you determine how long it will take for your savings to turn into your first million. By inputting your age and savings information, you can determine what you need to do to become a millionaire.

How do taxes and inflation affect my savings?

With an increase in inflation, you may be concerned about how inflation and taxes will impact your savings. Using the current inflation rate and your retirement expectations, TDECU’s Inflation Calculator can estimate the impact inflation has on your savings.

How much interest will I earn on a certificate of deposit (CD)?

A Certificate of Deposit (CD) can be a valuable savings or investment asset, but it isn’t easy to manually calculate the return from a CD. TDECU’s Certificate of Deposit calculator will estimate your return based on the deposit amount, term length, and interest rate.

How much should I save for college?

With tuition prices increasing, saving for your college goals is a must. Using TDECU’s College Savings Calculator, you can estimate how much you need to save to achieve your college savings goal. By using current tuition, years of college, inflation, and tax rates, you can estimate the value of your savings at the time you plan to begin college.