The guide will help you establish the default Loan program Guidelines for your loan templates. This is a Settings level video to help you setup the templates, however you can also adjust the Loan Program Guidelines on a Loan by loan basis as needed.
Step One: In the bottom left corner of the Dashboard click on the gear icon to enter Settings.
Step Two: A box will pop up prompting you to choose between your Personal or Company Settings. Personal Settings will allow you to change your own settings, Company Settings will change things for the company as a whole.
Step Three: From the menu on the right side of the Settings page, click on Loan Templates under System Defaults.
Step Four: Click on Edit Default Loan Programs inside of the Programs and Fees box in the middle of the Loan Templates screen.
Step Five: One you're inside of the Loan Programs window, you are able to adjust the loan program types by clicking the dropdown menu at the top of the page. You will have five different loan program types; Conventional, FHA, Jumbo, USDA, and VA.
Step Six: After selecting your chosen loan type, scroll down to Restrictions. Restrictions include DTI, Minimum and Maximum Down Payment, as well as the Minimum and Maximum Loan Amount.
***NOTE*** If you enter any zeros into the system it will confuse the system. Leave the box blank instead of entering zeros.
Step Seven: Scroll down to Other Fees, this box can be located under the Restrictions box. Other Fees is where you will enter your Mortgage Insurance information.
Step Eight: The last sections is Finance Fees. This section is designed to help determine the APR.
Step Nine: If you would like to build a profile using another program, such as HomePath, in the top right corner of the page click on +New Program.
Step Ten: A box will pop up when you click +New Program. Using the Type dropdown menu, select the loan type.
Step Eleven: From the box under Name, decide what you want this template to be called. When sending out Pre-Approval letters, this is the name that will be displayed.
Step Twelve: Under Maximum Amount, enter the maximum for the loan. Click Save.
Step Thirteen: After creating the new loan program, you'll see there are two different names, a Display Name and a Program Name. The Display Name is what will be displayed on the letters you send out, the Program Name is the internal name.
Step Fourteen: Scroll down the page to the Restrictions section and adjust the information to fit your preferences/guidelines.
Step Fifteen: Scroll down to Other Fees and adjust the information to fit your preferences/guidelines.
Step Sixteen: After adjusting the information, click Save Changes in the bottom right corner.
After saving your changes, the new program will now show up in your list of available programs! Hopefully this guide answers your questions!