Buying Power: Step-by-Step Guide

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.

1. Enter the loan amount and the interest rate.
2. 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.

1. Hover over the APR box. 
2. Click on the pencil icon.

3. Enter the APR % and APR cost (in dollars). 
4. Click Save Custom APR.

Your new custom APR will then be applied to the Buying Power chart.