Payoff Before Advance
To remove existing expenses from the Debt Service Calculations, first click on Credit & Liabilities from the left side navigation column.
Select Before Advance from the drop down bar on the Payoff column for each liability that is to be excluded from debt servicing.
Payoff From Proceeds (Refinance/Switch)
1. To have Liabilities being excluded from the Debt Service Calculation by being Paid Off as part of the transaction, you need to set the Purpose of the Transaction to Refinance (or Switch) on the Transaction page from the left side menu.
2. Click on ADD PURPOSE and select the desired Transaction type.
3. The list of Liabilities will appear on screen, simply click on ADD next to the desired Liabilities to be Paid Off from Proceeds.
Note: Only Mortgages will show up for Switch transactions.
4. If you return to the Credit & Liabilities (see above) page of your application, you will now see the chosen Liabilities that are being Refinanced (or Switched) as being Paid Off From Proceeds.
