Loan Products
At Community Credit Union, we offer a wide variety of loan products to our members:
Calculate your Debt to Income Ratio
Click here to connect to the  debt to income ratio calculator
This calculator will help you:
- Figure out how much debt you have compared to your income
- Better understand your financial situation
- Know whether you need to take action
What Monthly Payment Can You Afford?
Thinking about taking out a loan? You might want to figure out how much of a monthly payment you can comfortably afford. Use this handy worksheet to determine what your loan payment maximum should be.
Steps
|
Example
|
Your Figures |
| Your total monthly income before taxes |
$5,000 |
$_________ |
| Multiply by 38%* |
x .38* |
$_________ |
| Maximum affordable monthly debt |
=$1,900 |
$_________ |
Less total monthly bill payments
(mortgage/rent, credit cards, car, etc.) |
=$1,500 |
$_________ |
| Maximum monthly payment on a new loan |
=$400 |
$_________ |
*38% is the most commonly used percentage in such cases.
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