The Amortization calculator 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.
Using the Amortization Calculator
- Enter the client's name(s).
- Loan Amount, Term, Annual Interest Rate, and APR.
- 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.
- Click + Add Lump Sum Principal Payment
- Using the drop-downs, select the Purchase Year and Purchase Month.
- Click Calculate.
To add an additional loan, click Add new loan and repeat steps 1-5.
Share, Record or Start a Speed Meeting
Once you've created your Real Estate Report Card and made any necessary edits, it’s time to review and share your report. To share the completed report, click Share. A dropdown menu will appear.
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Click Download to download the report as a PDF.
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Click Send a link via email with an optional video recording (not available for some users depending on their company permission settings).
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Click Host a meeting to virtually meet to discuss the report with your client.
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Click Record a Video to provide your client with a clear walkthrough of the report along with your own insights and context.
Download as a PDF
If you wish to download the PDF, simply click Share then Download and it will save the report to your computer as a PDF.
How to Send the Report
To Send the report to your client(s):
- Click Share.
- Click Send from the drop-down.
- Enter the client(s) name. If multiple, separate with commas.
- Add up to four email addresses, separated by commas.
- Create a custom message.
- To add a video (optional), click Add video from library.
- Choose if you would like to use a one-time passcode.*
- Click Send.
Please note: If using a one-time passcode, your client(s) will receive two emails. The first email will have a link to the report. Once your client clicks on the link, it will trigger the second email to be sent with the access code.
*This feature may be optional depending on your company's permission settings. If your company allows, we provide the ability to copy a link to the report. However, if you choose to secure the report with a one-time passcode, this option will be grayed out.
How to Record a Video to share with your Client(s)
You may want to record a video to help provide an explanation of the report for your client. To do so:
- Click Share in the top right-hand corner of the page.
- Click Record Video from the drop-down.
- You will then select if you would like to use your webcam and/or show your screen.
- You may be asked to allow access to your microphone and webcam. Select “Yes” to allow access for the recording.
- Next, we will provide you a preview asking if you are ok with MBS Highway seeing the selected window for recording. Select Allow to continue.
- Click Start Recording to begin the recording.
- To end the recording, click the red square button at the bottom of the window.
- A window will then appear where you can preview the video, add a custom message, and provide the email addresses of the intended recipients.
*If your company allows, we provide the ability to copy a link to the report. However, if you choose to secure the report with a one-time passcode, this option will be grayed out.
If utilizing the one-time passcode, your client(s) will receive two emails. The first email will have a link to the recording. Once your client clicks on the link, it will trigger the second email to be sent with the access code. See email examples below:
Example First Client Email:
Please note: Speed Meeting (both the meeting and recording functionality) is currently optimized for your desktop experience only and will not work on mobile devices.
Starting a Meeting
If you would like to share the report with a live meeting:
- Click Share.
- Click Host a meeting.
- Type in your client’s name.
- Type in your client’s email.
- An email will be sent to your client with a link to join the meeting.
- Your client will then receive a one-time passcode via email to access the meeting.
- You can change your camera, audio or screen being shared by using the buttons located at the top of the pop-up window.
- To view your camera feed, click View Camera Feed.
- Once your meeting is complete, click End.
An amortization schedule along with interactive charts and graphs will generate based on your inputs. Go to the next article to dive into what's inside the Amortization Calculator's results!
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