This guide walks you through building an ARM vs. Fixed report, from selecting or adding a client to entering both the fixed-rate and adjustable-rate loan terms. Use it to help a client compare a fixed-rate mortgage against an ARM and see the potential payment differences and long-term cost scenarios between the two. It's intended for loan officers preparing a side-by-side rate comparison to share with clients.
Navigating to the ARM vs Fixed Report
You can find your ARM vs Fixed report within Client Manager as well as within the Calculator tab of the left-hand navigation menu.
Navigating through the Client Manager
Client Manager allows you to create reports for your clients using previously saved loan and property details, saving you time when building new scenarios. To learn more, click here.
Navigating through the Menu
To access the ARM vs Fixed report using the left-hand sidebar menu, click Calculators, then click ARM vs Fixed.
💡 Helpful Tip: You can also search and favorite reports, tools, and calculators. Click here to learn how.
Creating your Report
1. Choose a client by typing their name in the field below and select them from the drop-down.
- To add a new client, select + Add new from the drop-down and fill in your client's information. Name and FICO score are required fields and click Add.
2. You can also load previously created reports by clicking Saved Scenarios.
3. Select a saved scenario by clicking Load in the corresponding row.
4. Enter the Loan Amount and Term. The Term will default to 30 years, but you can edit this to match your client’s loan.
5. Enter the Annual Fixed Interest Rate and APR for the fixed-rate loan.
6. Select an ARM Term from the dropdown.
7. Click the ARM Adjustment Frequency dropdown and select how often the rate can adjust after the initial fixed period, such as every 6 months or 1 year.
8. Select the ARM Scenario: Worst Case, Historical Average, Current Market, or Custom.
9. Enter the Initial Cap, Annual Cap, and Lifetime Cap rate.
10. Enter the Annual Adjustable Interest Rate and APR for the ARM loan.
11. Click Continue to generate a report.
Sharing the Report
Once you have clicked Calculate, you will be brought to the report. You may click the Edit button to make further adjustments. To share the completed report, click Share. A dropdown menu will appear.
- Click Download to download the report as a PDF.
- Click Send a link via email with an optional video recording (not available for some users depending on their company permission settings).
- Click Host a meeting to virtually meet to discuss the report with your client.
- Click Record a Video to provide your client with a clear walkthrough of the report along with your own insights and context.
To learn more about sharing your report, click here.
Want to Learn More?
Check out the next article, ARM vs. Fixed: What's Inside, to learn more about what's inside the report.
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