Calyx Point 7 - Page 172

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154 Calyx Software

Disclosures and other forms

• First lien

• Fixed Rate loan

• Purchase

9 Enter the sales price, down payment, and appraised value of the property.

The

LoanAmt field is automatically calculated.

The

w/MIP,FF field is automatically calculated if an up-front mortgage insurance

premium or a funding fee is being added to the APR.

10 Complete the

NoteRate and TermDue fields.

11 Click the Mth Pmt button to open the

Monthly Payment Settings dialog box.

Use the

Monthly Payment Settings dialog box to set the payment structure and the

loan terms and specifications. This dialog box is also accessible from the

Loan

Application

and these fields are also on the Truth-In-Lending screen. These fields

are populated in all screens when completed.

The

MthPmt field is automatically calculated.

12 Click the Income button to open the

Income Information dialog box to enter the

income for the borrower and co-borrower.

13 Click the HE & Oblig button to open the

Housing Exp & Other Obligations dialog

box to enter monthly payment obligations.

The

OtherPmts field is automatically calculated from information that is entered

Housing Exp & Other Obligations dialog box or the Loan Application.

Tip

You can also enter income information and housing expenses on page 2

of the

Loan Application.