The Blended Rate loan calculator will help you determine an effective or blended interest rate. Use this tool to give your clients a more accurate rate in scenarios where they are using multiple loans to finance a purchase of a home.
To get started using the Blended Rate Calculator, you will need to enter the following for each debt you wish to consolidate:
- Debt name
- Debt balance
- Interest rate
- Minumum monthly payment (optional)
Adding, Moving or Removing Debts
By default, the blended rate calculator has 3 loans/debts. However, you can add and remove up to 15 debts. To move, add or remove debts:
- To add a debt, click + Add debt at the bottom right corner of the page.
- To remove a debt, simply click on the black trash can icon.
- To change the order of a debt, click on the six dots located on the left hand side of the tile and drag it to the desired location.
Each time a debt is added, the summary at the top is automatically updated.
How to Share your Loan Comparison Report
To download the report as a PDF, follow the steps below:
- Click Download on the top right of the page.
- Click the Download button to download the report in pdf format.
You can also share your report as a link or PDF with an optional video using the Send button at the top right hand corner of the screen.
- Click Send in the top right corner of the page.
- Add a custom message and the email addresses of your intended recipients (up to four).
- Add a video by clicking Add video from library.
- Choose if you would like to use a one-time passcode to secure the report when sending.
- If you choose this option, a link to the report as well as a one-time code will be emailed to your client which will allow them access.
- This option may not be available for all users due to corporate permission settings.
- Press Send when you are finished.
You may also have an option to copy a link to the report. We also provide you the option to email a copy of the report as a PDF via email.