Cost of Waiting: Step-by-Step Guide

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The Cost of Waiting tool will help you show your customer how much more it would cost to wait on buying a home vs. purchasing now. Follow the steps below to get started. 

  1. Type in your client’s name. If multiple names, separate them with commas. 
  2. Choose a location by entering an address, city, county, or Zip code.
  3. Enter the price of the home you would like to purchase.
  4. The annual property tax and monthly home insurance costs will be automatically calculated. These fields are editable.
  5. Add a monthly association fee (if applicable). 
  6. Choose the rate of appreciation (forecast, historical or custom).
  7. Click Next.
  8. Enter a loan name (optional), down payment amount, term, loan program, loan type, interest rate, and points (if applicable).
  9. Your Mortgage Insurance Premium and APR will automatically be calculated. For FHA, VA, USDA loans, an Upfront MIP, Funding Fee, or Guarantee Fee will be calculated with the option to finance the fee into the loan amount.

  1. Enter Closing Costs, Credits and Prepaid & Escrows. You can use a previously created worksheet to calculate the closing costs simply by clicking Use worksheet
  2. Click Next.

A Cost of Waiting report will then be generated. From here, you can make several edits and changes to the report and see it reflected automatically. See what edits you can make under each section.

 


Property Edits

Click Edit under the property section to modify property information. This includes:

  •   Location
  •   Purchase price
  •   Annual property tax
  •   Monthly home insurance
  •   Monthly association fee
  •   Appreciation rate

Loan Edits

Click Edit under the Loan section to modify loan information. This includes:

  •   Loan name
  •   Down payment amount
  •   Term of the loan
  •   Loan program and type
  •   Interest rate
  •   Points
  •   Monthly mortgage insurance
  •   Mortgage insurance premium
  •   Guarantee fee
  •   Funding fee
  •   Closing costs
  •   Credits
  •   Prepaid and escrows
  •   APR

Waiting Periods

You can hide or make visible a waiting period by clicking on the eye icon seen below. 

Click the down arrow to make edits to each waiting period. Click  + View more to see all available edits. 

 

You can make the following edits: 

  • Estimated purchase price
  • Rate 
  • Down payment amount
  • Term of the loan
  • Loan program and type
  • Interest rate
  • Points
  • Monthly mortgage insurance
  • Mortgage insurance premium
  • Guarantee fee
  • Funding fee
  • Closing costs
  • Credits
  • Prepaid and escrows
  • APR

Edit Client Information

Click Edit under the Client to change or update the client’s name.

To add a co-brand partner, click Add and choose one from the drop-down. You can also choose where the co-branding will be displayed on the report.


Share, Record or Start a Speed Meeting

To share the completed report, click Review Report

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Then click Share. A dropdown menu will appear.

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  • 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 Record Video to provide your client with a clear walkthrough of the report along with your own insights and context.
  • Click Host a meeting to virtually meet to discuss the report with your client.

Download as a PDF

If you wish to download the PDF, simply click Share then Download and it will save the report to your computer as a PDF. 


How to Send Your Report

To Send the report to your client(s): 

  1. Click Share
  2. Click Send from the drop-down. 
  3. Enter the client(s) name. If multiple, separate with commas.
  4. Add up to four email addresses, separated by commas.
  5. Create a custom message.
  6. To add a video (optional), click Add video from library.
  7. Choose if you would like to use a one-time passcode.* 
  8. Click Send.

Please note: If using a one-time passcode, your client(s) will receive two emails. The first email will have a link to the report. Once your client clicks on the link, it will trigger the second email to be sent with the access code.

*This feature may be optional depending on your company's permission settings. If your company allows, we provide the ability to copy a link to the report. However, if you choose to secure the report with a one-time passcode, this option will be grayed out. 


How to Record a Video to share with your Client(s)

You may want to record a video to help provide an explanation of the report for your client. To do so:

  1. Click Share in the top right-hand corner of the page.
  2. Click Record Video from the drop-down.  
  3. You will then select if you would like to use your webcam and/or show your screen. 
    • You may be asked to allow access to your microphone and webcam. Select “Yes” to allow access for the recording. 
  4. Next, we will provide you a preview asking if you are ok with MBS Highway seeing the selected window for recording. Select Allow to continue. 
  5. Click Start Recording to begin the recording.
  6. To end the recording, click the red square button at the bottom of the window.
  7. A window will then appear where you can preview the video, add a custom message, and provide the email addresses of the intended recipients. 

*If your company allows, we provide the ability to copy a link to the report. However, if you choose to secure the report with a one-time passcode, this option will be grayed out. 

If utilizing the one-time passcode, your client(s) will receive two emails. The first email will have a link to the recording. Once your client clicks on the link, it will trigger the second email to be sent with the access code. See email examples below:

 

Example First Client Email:

Please note: Speed Meeting (both the meeting and recording functionality) is currently optimized for your desktop experience only and will not work on mobile devices.


Starting a Meeting

If you would like to share the report with a live meeting:

  1. Click Share.
  2. Click Host a meeting
  3. Type in your client’s name.
  4. Type in your client’s email.
  5. An email will be sent to your client with a link to join the meeting. 

  1. Your client will then receive a one-time passcode via email to access the meeting.
  2. You can change your camera, audio or screen being shared by using the buttons located at the top of the pop-up window. 
  3. To view your camera feed, click View Camera Feed.

  1. Once your meeting is complete, click End.

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