Roth Conversion Calculator
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Roth IRA Conversion Calculator
In 1997, the Roth IRA was introduced. This new IRA allowed for contributions to be made on an after-tax basis and all gains (or growth) to be distributed completely tax-free. Since then, people with incomes under $100,000 have had the option to convert all or a portion of their existing Traditional IRAs to Roth IRAs. Beginning in 2008, participants with funds in eligible employer-sponsored plans could also roll those funds directly over to a Roth IRA in a qualified rollover if their income did not exceed the $100,000 threshold. Starting in 2010, all IRA owners and participants in eligible employer-sponsored plans, regardless of income level, are eligible to convert their Traditional IRA and pre-tax funds in an employer-sponsored plan [401(a)/(k), 403(b) and governmental 457(b)] to a Roth IRA. Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. This calculator compares two alternatives with equal out of pocket costs to estimate the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.
Disclosures
Rate and APR may vary based on several factors including, but not limited to, loan amount, state of property location, documentation type, occupancy, property type, loan to value and your credit score. Your final rate may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply. To get a custom quote based on your specific situation, contact a Citizens State Bank representative.
The annual percentage rate (APR), is the cost of credit over the term of the loan expressed as an annual rate. The APR shown here is based on the interest rates and does not take into account other loan specific finance charges you may be required to pay.
Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information.
Payments shown do not include amounts for taxes and insurance. Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan.
For the Adjustable-Rate Mortgage (ARM) product, interest is fixed for a set period of time, and adjusts periodically thereafter. At the end of the fixed-rate period, the interest and payments may increase. The APR may increase after the loan consummation. Interest only loans may be available depending on your credit profile and provide for the payment of interest only for a set period of time, and payments of principal and interest thereafter. While making interest only payments, principal is not reduced. At the end of this period your monthly payment will increase, possibly substantially, because you will be required to pay down the outstanding principal. Always consider paying more than the minimum payment to pay down the principal.
Tools and calculators are provided as a courtesy to help you estimate your mortgage needs. Results shown are estimates only. Speak with a Citizens State Bank representative for more specific information. Message and data rates may apply from your service provider.
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available for all amounts. Other restrictions and limitations may apply.
