Amortization Report: Step-by-Step Guide

Summary

The Mortgage Amortization Report helps you estimate your client’s monthly loan payments and breaks down how much they’ll pay towards principal and interest over the course of the loan.

Navigating to the Amortization Report

You can find your Amortization report within Client Manager as well as within the Calculator tab of the left-hand navigation menu. 

Navigating through the Client Manager

Client Manager allows you to create reports for your clients using previously saved loan and property details, saving you time when building new scenarios. To learn more, click here. 

Navigating through the Menu

To access the Amortization report using the left-hand sidebar menu, click Calculators, then click Amortization. 

Helpful Tip: You can also search and favorite reports, tools, and calculators. Click here to learn how. 

Using the Amortization Calculator

1. Select a client by typing their name in the field below and select them from the drop-down.

2. To add a new client, select + Add new from the drop-down.

3. Next, fill in your client's information. Name and FICO score are required fields. Click Add. 
4. Enter the Loan Amount, Term, Annual Interest Rate, and APR for the loan.

5. You may also add:

• An Optional Additional Monthly Principal Payment which would be paid towards the principal every month.
• An Optional Lump Sum Payment for a one-time payment towards the principal by filling out the fields below:
  • Click + Add Lump Sum Principal Payment
  • Choose which payment number you would like to make the lump-sum payment on. For example, if you would like it paid on the 15th mortgage payment. 
  • The Payment Amount they would like to pay.
  • To Recast, click the checkbox. 
    • Some mortgage lenders and servicers will allow you to recast (or reset) your monthly loan payment amount after making a principal lump sum payment. The reset will be based upon the original rate and term.

6. Using the drop-downs, select the Purchase Year and Purchase Month.
7. To add an additional loan, click Add new loan and repeat steps 1-5.

8. Click Calculate.

Sharing the Report

Once you have clicked Calculate, you will be brought to the report. You may click the Edit button to make further adjustments. To share the completed report, click Share. A dropdown menu will appear.

• Click Download to download the report as a PDF.
• Click Send a link via email with an optional video recording (not available for some users depending on their company permission settings).
• Click Host a meeting to virtually meet to discuss the report with your client.
• Click Record a Video to provide your client with a clear walkthrough of the report along with your own insights and context.

To learn more about sharing your report, click here.