With over 20 years in the mortgage industry, I am passionate about making your homebuying dreams a reality. If you would like to pay off debt, put in a swimming pool, or update your home, I would love to have the opportunity to find the best product to help you reach your goals.

Contact:
awelch@pelicanstatecu.com
(225) 408-6350

Apply with Angela

Darian Bordelon
NMLS ID #2079425

I have had the pleasure of assisting our Pelican members with their financial needs for over 7 years. I thrive on educating our members to help them make informed decisions. Whether you are looking to purchase your first home, do home improvements, or need help consolidating debt, it would be my pleasure to help you with your mortgage needs.

Contact:
dbordelon@pelicanstatecu.com
(225) 408-6265

Apply with Darian

Theresa Thomas
NMLS ID #1866876

I‘m a highly motivated individual, driven to make a difference in the lives of those around me. I’m confident in my ability to deliver exceptional member service with over 16 years of experience and 7 years in the financial services industry. I look forward to helping you on this journey!

Contact:
tthomas@pelicanstatecu.com
225-408-6272

Apply with Theresa

Angela Welch
NMLS ID #1600003

Contact:
awelch@pelicanstatecu.com
(225) 408-6350

Apply with Angela

Darian Bordelon
NMLS ID #2079425

Contact:
dbordelon@pelicanstatecu.com
(225) 408-6265

Apply with Darian

Theresa Thomas
NMLS ID #1866876

Contact:
tthomas@pelicanstatecu.com
225-408-6272

Apply with Theresa

Closing Costs

Keep in mind there are closing costs associated with refinancing. These costs can be rolled into your mortgage. This greatly lessens how much you'll need to bring to closing, but this also means you are adding to the principal loan amount.

To determine if you will be better off refinancing for the long-term, determine how much you will save per month by refinancing. Calculate how many months it will take, based on these savings, to equal the closing costs. That is your break-even point. If you will be in the home at least that long, you come out on top.

TruStage Home Insurance Program

Designed for credit union members like you, the TruStage Home Insurance Program provides top quality protection for your home that is designed to be affordable. This valuable coverage can help you protect your family's home and personal belongings. You'll also have access to outstanding online and 24/7 claim services.²

Get your free quote today by visiting the TruStage website or call 1-855-483-2149.

[Skip to Content]

Mortgage Calculator

Use this mortgage calculator to determine your monthly payment and generate an estimated amortization schedule. Quickly see how much interest you could pay and your estimated principal balances. Enter prepayment amounts to calculate their impact on your mortgage.

Definitions

Mortgage amount

Original or expected balance for your mortgage.

Term in years

The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.

Interest rate

Annual fixed interest rate for this mortgage. Please note that the interest rate is different from the Annual Percentage Rate (APR), which includes other expenses such as mortgage insurance, and the origination fee and or point(s), which were paid when the mortgage was first originated. The APR is normally higher than the simple interest rate.

Monthly payment

Monthly principal and interest payment (PI).

Total payments

Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.

Total interest

Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.

Prepayment type

The frequency of prepayment. The options are none, monthly, yearly and one-time payment.

Prepayment amount

Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.

Start with payment

This is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan.

Savings

Total amount of interest you will save by prepaying your mortgage.

Report amortization

Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

All Pelican State Credit Union mortgages comply with federal and state regulations. NMLS #635443

*APR = Annual Percentage Rate. Rates quoted are not locked in and are subject to change. Rates are not locked until a rate lock acknowledgment has been signed. Rates are based on certain assumptions. The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. Interest rates and APRs are based on current market rates and are for informational purposes only. Rates are subject to change without notice and APR (Annual Percentage Rate) calculations are based on certain assumptions related to closing costs and fees. Maximum loan limits and minimum equity/down payment requirements apply.

¹Membership required. This information is not an offer to extend consumer credit. Rates and terms are subject to change without notice. Product is offered through our partner, CU Members Mortgage. Applications will be processed using FHA guidelines. Some restrictions apply. See representative for details.

²The maximum amount you can borrow with any Home Equity Loan is 100% and with any HELOC is 90% of the appraised value. Home Equity Loans and HELOCs are available on your primary residence only. Loans subject to credit approval. Rates and terms are subject to change without notice. Other restrictions apply. Your specific rate and term will be dependent upon your credit rating, collateral value, amount financed, lien position, and other factors. Hazard insurance and flood insurance may be required, if applicable. A processing fee of $150 will be due at closing. Borrower will be responsible for certain closing costs which may include title insurance, appraisal fee, and survey costs. Consult a tax advisor regarding the deductibility of interest and charges under the plan. NMLS #635443

³Consult a tax professional.

⁴Pelican State CU membership eligibility required. Approval based on certain credit criteria and credit worthiness. Not everyone will qualify. Rate and term determined by credit worthiness, collateral, and loan to value. If refinancing a loan currently financed by another financial institution, registration fees may apply. Volunteer collateral protection products available at additional costs. Some restrictions apply. See a Pelican representative for additional details.

⁵PMI required for LTV’s 80% or more. First mortgages only, no combo loans.