<aside>
<img src="/icons/list_gray.svg" alt="/icons/list_gray.svg" width="40px" /> Table of Contents
</aside>
.jpg)
The Loan officer assistant can access the Mortgage Calculator by clicking the calculator icon at the top of the MLOFLO platform interface. Follow these steps to use the mortgage calculator effectively:
- Access the Mortgage Calculator
- Click the calculator icon located at the top of the MLOFLO interface.
- Enter the Mortgage Details
- Include Tax and Fees: Toggle "Yes" or "No" to include taxes and fees.
- If selected “No” to include taxes and fees, enter the following details
- Loan Amount: Enter the Loan amount
- Loan Term (Years): Enter the loan term in years.
- Interest Rate (%): Enter the interest rate as a percentage.
- If selected “Yes” to include taxes and fees, enter the following details
- Home Price: Enter the price of the home.
- Down Payment: Enter the down payment amount. You can enter this as a dollar amount ($) or a percentage (%).
- Loan Term (Years): Enter the loan term in years.
- Interest Rate (%): Enter the interest rate as a percentage.
- Property Tax (Yearly): Enter the yearly property tax amount.
- Home Insurance (Yearly): Enter the yearly home insurance amount.
- Private Mortgage Insurance (Monthly): Enter the monthly private mortgage insurance amount.
- Home Owners Association (Monthly): Enter the monthly homeowners association fee.
- View Calculated Results
After entering all the details, the calculator will display the following results:
- Total Monthly Payment: The total monthly payment amount.
- Loan Amount: The loan amount based on the entered details.
- Taxes and Fees: The total amount of taxes and fees.