Calculator

Calculator is designed to provide answers, information, and computations requested by borrowers.

Use this option to compute what the mortgage payment would be, project the loan balance for a given period, compute daily interest figures, prepare amortization schedules, and calculate the APR on various loan types.

Although not stored in memory, the information can be printed.

Your staff could use this section several times a day.

Best Loan for Me

What I Can Pay allows the operator to enter basic loan information into the program to provide borrowers with a proposed loan amount they can afford.

What Could I Afford provides borrowers with a general price range for a house they can afford. In addition, those who may anticipate or have an increase in income may want to know what they could afford. This program offers the loan originator the capability to do a what if scenario.

Could I Qualify computes the ratios to determine if a borrower qualifies.

Payment and Costs

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Use this option to rapidly compute and estimated monthly payment and projected loan costs. After the property county and state are selected, the program displays typical closing costs and escrow reserves and calculates the total payment (PITI) and APR.

The results can be printed and given to a prospective borrower.

Loan Comparison

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This selection is a tool for loan originators to visibly demonstrate to borrowers the difference in various loan products being offered or what the savings would be by increasing the monthly payment a few extra dollars.

The program is designed for fixed rate loans with up to three variable options. The loans are compared showing the difference in the total interest paid over the term of the loan and initial cash required at the time of closing.

In addition to illustrating the different savings with the interest rate bought down with points and/or fees, the program can be used to demonstrate the savings if the term of the loan is different.

Select Loan: On a refinance loan, enter the Servicing account number and the data is entered in the Loan 1 fields. This is an excellent way to see the savings or advantages of refinanancing.