Calyx Point 7 - Creating an Amortization Schedule for an Adjustable Rate Loan; Creating an Amortization Schedule for an ARM with Negative Amortization

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Marketing tools
4 Complete the LoanAmt,NoteRate, Term___mths,DueIn__mths, and 1stPmtDate
fields.
5 Click the Calculate button to display the payment schedule.
6 Click the Monthly Sch button to view a monthly payment schedule.
Creating an amortization schedule for an adjustable rate loan
To create an amortization schedule for an adjustable rate loan:
1 Open a prospect or borrower file.
2 Select Marketing > Amortization Schedule.
3 If you have created a loan program template, click Loan Program
to select one.
4 Complete the
1stPmtDate, LoanAmt,NoteRate, Term___mths, andDue__mths
fields.
5 Complete the
1stAdjCap field. The first adjustment cap is the percent that the loan
will change for the first adjustment. (For example, enter
2% for a loan that will change
from 6% to 8%)
6 In the
AdjPeriod__mths field, enter the number of months between each rate
adjustment for the remainder of the loan (for example, every six months).
7 In the
AdjCap__mths field, enter the percent that the loan will change each period.
8 In the
LifeCap __% field, enter the difference between the starting note rate and the
ceiling to which the note rate can adjust.
9 In the
Margin__%and Index __% fields, enter those values based on the loan
program of your lender. To show a worst case scenario, leave the Index field blank.
10 The
Floor field is optional. Use the Floor field to indicate a minimum interest rate.
11 Click the Calculate button to display the payment schedule.
12 Click the Monthly Sch button to view a monthly payment schedule.
Creating an amortization schedule for an ARM with negative amortization
To create an amortization schedule for an ARM with negative amortization:
1 Open a prospect or borrower file.
2 Select Marketing > Amortization Schedule.
3 If you have created a loan program template, click Loan Program
to select one.
4 Complete the
1stPmtDate, LoanAmt,NoteRate, Term___mths, andDue__mths
fields.
5 In the
1stAdjCap __ % field, enter the maximum percentage that the rate will increase
for the first change to occur.
Tip
Term is the amortization time period. Due In is the length of the loan.
Therefore, a 30-year amortized loan with a balloon payment after five
years should be:
Term/Due In:
360/60