1. Loan Servicing User Guide
  2. Tools
  3. Loan Calculator
  4. Parameters
  5. Calculating Loan Amount

12.1.1.4 Calculating Loan Amount

The Calculate Loan Amount option calculates loan affordability of a customer based on term, payment amount and the rate quoted.
To calculate an Interest Rate,
  1. Click Loan Calculator tab.
  2. In the Parameters section, select Calculate Loan Amount. The system enables the required fields based on this selection.
  3. Specify the required information. (Refer the section Calculating Loan Payment in this chapter for more information).
  4. After you specify all the required information click calculate. The system computes the payment change schedule.
    You can perform the following activities when the Interest Rate is calculated:
    • Creating an amortized schedule of payments (Applications)
    • Copying the loan amount calculations to the Decision link (underwriting)
    • Copying the loan amount calculations to the Contract link (funding)

Parent topic: Parameters