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Set up a "What If" scenario in the Loan Manager

To do this task
  1. Go to the Banking menu and click Loan Manager. Shortcut

  2. In the Loan Manager window, click What If Scenarios.

  3. In the What If Scenarios window, choose a scenario:

    • What if I change my payment amount?

      1. Choose the loan that you want to run the scenario on.

      2. In the New Loan column, enter the new payment amount.

      3. Click Calculate.

        You'll see the changes to your maturity date, total payments, total interest, and balloon payment (if applicable).

    • What if I change my interest rate?

      1. Choose the loan that you want to run the scenario on.

      2. In the New Loan column, enter the new interest rate.

      3. Click Calculate.

        You'll see the changes to your payment amount, total payments, total interest, and balloon payment (if applicable).

    • How much will I pay with a new loan?

      1. In the New Loan column, enter the new loan information.

      2. Click Calculate.

        You'll see the changes to your payment amount, total payments, total interest, and balloon payment (if applicable).

    • What if I refinance my loan?

      1. In the New Loan column, the Amount Borrowed is the remaining balance on your current loan, that is, the amount you would likely refinance. If you want to refinance an additional amount on top of the current balance, change the amount borrowed value to the total amount you want to refinance.

      2. Enter the remaining information for the new loan.

        If you don't know what the Origination Date will be, estimate a date so that you can do the calculation.

      3. Click Calculate.

        You'll see the changes to your payment amount, total payments, total interest, and balloon payment (if applicable).

    • Evaluate two new loans

      1. In the New Loan #1 column, enter the new loan information.

        If you don't know the payment amount, it will be calculated for you.

      2. Click Calculate.

      3. In the New Loan #2 column, enter the information for the second loan.

      4. Click Calculate.

        You'll see the changes to your payment amount, total payments, total interest, and balloon payment (if applicable).

    Note: If a zero balance loan is selected in the loan list, only two of the scenarios appear in the list: "How much will I pay with a new loan?" and "Evaluate two new loans".

  4. You may want to print this information if you need it for reference. When you close the What If Scenarios window, or switch to a different scenario, any information you entered will be deleted. Click Print to print the information about the loan.

  5. Click OK.

KB ID# H_LOAN_TASK_LOAN_MANAGER_WHAT_IF_SCENARIO_SETUP
12/5/2016 6:49:43 PM
QYPPRDQBKSWS05 9138 Pro 2017 ee9c8b