Create a Buying Power Chart
The Buying Power tool illustrates the change in loan amount needed to maintain a constant monthly payment at different interest rates, as well as the change in payment for a constant loan amount at different interest rates.
- Enter the loan amount and the interest rate.
- Click Continue.
A table and row chart will populate based on your inputs. The charts show how much home you can afford if you wanted to maintain a constant payment at different rates, and also shows the change in payment for a constant loan at different interest rates.
You can toggle between the two chart types by clicking on the Table Chart and Row Chart button above the charts.
Creating a Custom APR
APR values provided in the table are based on a default calculation. These values can be edited for each loan to meet compliance for your products.
- Hover over the APR box.
- Click on the pencil icon.
- Enter the APR % and APR cost (in dollars).
- Click Save Custom APR.
Your new custom APR will then be applied to the Buying Power chart.