Loan settings

Editing area

Home area Area 2 Area 3 Area 4

Up to four places you lend, such as counties or states, each with its own title & escrow splits, prepaids and loan ceilings. Everything else is shared. Quotes use the area picked on the main menu. Switching here saves this area's changes first.

Interest rates

The + and - buttons move a rate by 0.125. Closing cost credit: under 10 is a percentage of the loan amount (1 = 1%), 10 or more is dollars.

FNMA Fixed 30 Year %

Jumbo Fixed 30 Year %

FHA Fixed 30 Year %

VA Fixed 30 Year %

Closing cost credit ($ or %)

FNMA Fixed 15 Year %

Jumbo Fixed 15 Year %

FHA Fixed 15 Year %

VA Fixed 15 Year %

ARM rates

Conv ARM Initial Rate Cap %

Conv ARM Rate Cap per Year %

Rate Cap - Max Increase %

Conv ARM Start Rate %

Conv ARM Margin %

Conv ARM Index %

Calculate APR using Rate Caps Indexed Rate

Defaults for 2nds

2nd amount: under 90 is a percentage of the sales price, otherwise dollars. Cost: under 19 is a percentage of the 2nd's amount, otherwise dollars.

2nd Amount %

Term years

Interest Rate %

Cost ($ or %)

Standard fees

Amounts in dollars. Loan fees: under 10 is a percentage of the loan amount (1 = 1%), 10 or more is dollars.

Conventional loan fee ($ or %)

FHA loan fee ($ or %)

VA loan fee ($ or %)

Conventional appraisal fee

FHA appraisal fee

VA appraisal fee

Credit report fee

Recording fee

Notary fee

Company fees for sales

Name each fee in English and Spanish, then tick the loan types it applies to and whether it counts in the APR. Google Translate can help with the Spanish.

Applies to
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR

English name

Spanish name

Amount

Applies to

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Company fees for refis

Applies to
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR
Conv	FHA	VA	In APR

English name

Spanish name

Amount

Applies to

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Conv

FHA

In APR

Title insurance and closing fees

Who pays what in this area.

	Buyer	Seller	Split 50/50
Owner's policy paid by	Buyer	Seller	Split
Lender's policy paid by	Buyer	Seller	Split
Escrow/closing fee paid by	Buyer	Seller	Split

Edit title & escrow fees

Prepaid closing costs

Prepaids, HOA dues and so on in this area. S.P. means sales price. Bonds and HOA dues are monthly: under 15 is dollars per $1,000 of the sales price, 15 or more is dollars.

Months of taxes

Months of hazard insurance

Days of interest

Months of PMI (Conv)

Months of MMI (FHA)

Bonds - $ or % of S.P.

Transfer tax - % of S.P.

Mortgage tax - % of loan amount

Property tax - % of S.P.

Hazard insurance - % of S.P.

HOA dues - $ or % of S.P.

Tax area and state

Shown on quotes. The same for every area.

Area for taxes

State (in USA)

Loan ceilings

Loan amounts for this area, at least $15,000 each.

FHA single family limit

FHA duplex loan limit

FHA triplex loan limit

FHA fourplex loan limit

VA maximum no down loan

FNMA/FHLMC rate ceiling

FHA defaults

Percentages as plain numbers: 3.5 for 3.5%.

Sales

Minimum down

MIP for sales

Monthly MI - 30 yrs over 95%

Monthly MI - 30 yrs at or under 95%

Monthly MI - 15 yrs over 90%

Monthly MI - 15 yrs at or under 90%

High balance sales

Loan amount for high balance

Minimum down

Level 2 MI - 30 yrs over 95%

Level 2 MI - 30 yrs at or under 95%

Level 2 MI - 15 yrs over 90%

Level 2 MI - 15 yrs at or under 90%

Refis

Max LTV for cash out refi

MIP for cash out refi

MIP for streamline refi

Monthly MI - 30 yrs over 95%

Monthly MI - 30 yrs at or under 95%

Monthly MI - 15 yrs over 90%

Monthly MI - 15 yrs at or under 90%

High balance refis

Loan amount for high balance

Level 2 MI - 30 yrs over 95%

Level 2 MI - 30 yrs at or under 95%

Level 2 MI - 15 yrs over 90%

Level 2 MI - 15 yrs at or under 90%

VA defaults

Maximum VA guarantee

Max LTV for new VA cash out refi

Max LTV for new VA rate & term refi

Funding fees

Sales: LTV to 90%

90 to 95%

Over 95%

All refis

Regular vet - first use

Reservist - first use

Regular vet - previous VA

Reservist - previous VA

Disabled veteran

Streamline refinance

MI factors: standard loan amounts

By LTV and credit score. Monthly at or under $650,000; single premiums at or under $453,100.

LTV	760+	740-759	720-739	700-719	680-699	660-679	640-659	620-639	760+	740-759	720-739	700-719	680-699	660-679	640-659	620-639
97%
95%
90%
85%

MI factors: high balance loan amounts

Monthly over $650,000; single premiums over $453,100.

LTV	760+	740-759	720-739	700-719	680-699	660-679	640-659	620-639	760+	740-759	720-739	700-719	680-699	660-679	640-659	620-639
97%
95%
90%
85%

Special programs

Down payment assistance, split MI premiums and USDA. Percentages as plain numbers: 5 for 5%. Down payment assistance: under 50 is a percentage of the sales price, otherwise dollars.

Down payment assistance ($ or %)

Split MI premium (financed factor)

Split MI premium (monthly factor)

USDA interest rate%

USDA funding fee%

USDA monthly MI%

Qualifying ratios

Top and bottom ratios for each loan type. VA uses the debt-to-income ratio only.

Top

Bottom

Conventional 20% down

Conventional 10% to 20% down

Conventional under 10% down

FHA

VA (DTI only)

Closing cost summaries

Extra wording at the bottom of sale and refi closing cost summaries. Up to 1,300 characters each.

English

Spanish

Open house flyers

Extra wording on open house flyers. Up to 1,300 characters each. Google Translate