Blended Rate Calculator: Step-by-Step Guide

 

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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:

  1. To add a debt, click + Add debt at the bottom right corner of the page.
  2. To remove a debt, simply click on the black trash can icon.

  1. 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.

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How to Share your Loan Comparison Report

To download the report as a PDF, follow the steps below:

  1. Click Download on the top right of the page.
  2. 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.  

  1. Click Send in the top right corner of the page. 
  2. Add a custom message and the email addresses of your intended recipients (up to four).
  3. Add a video by clicking Add video from library
  4. 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. 
  5. 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

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Have questions or want to learn more? Submit a ticket or call us today!

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