Contents
Contents QUICK-PAYMENT HELP

General Program Overview

Installation

Payment Calculator

Loan PreQualify

Loan Amortizer

Printing Forms

Payment Sets Setup

Loan Programs Setup

Quick-Payment Setup


General Program Information
General Program Overview

QuickPayment is designed to quickly calculate loan payments, prequalifying information, and loan amortization schedules. QuickPayment compares four loan payments on four different loan programs simultaneously. This allows you to compare an unlimited number of loan payments and loan programs by entering the desired loan amount.

The prequalify portion of the program is equally easy to use, by selecting a loan amount and the type of loan program, a qualifying amount can determined in a few seconds. The loan program or any of the parameters used to calculate the qualifying information can be changed and the program will automatically adjust.

The loan amortizer displays and prints full or partial loan amortization schedules. Calculates interest rate buydowns, escrows for buydowns, calculates the effects of principal reduction payments, and compares interest repayment amounts.

Throughout the program online context sensitive HELP is always available by pressing the F1Key. The bottom line of the screen displays a message for the field that you are on, with a short description of what action is required or what keys to use. Delayed Tips are available for labels ending with a semicolon{;}, when the mouse cursor is on a screen area with tips the cursor will change to a cross{+}, waiting for the specified delay will display a Tip. To adjust the delay, select Program Registration from the Files Menu on the main screen.

   SCREEN FIELD NAVIGATION

All program items are fully functional using a mouse. Using the keyboard, the TABKEY {forward}, SHIFT+TABKEY {backup}, or the ARROWKEYS move from field to field. To select a menu or screen field, press the underlined character displayed on the label while holding down the ALTKEY to select that item. A menu bar can be activated by holding down the CTRLKEY and pressing the SPACEBAR, once activated, menu items can be selected using the ARROWKEYS and pressing the ENTERKEY when the menu item is highlighted. When a pull down menu is active, items in the menu can be selected by pressing the underlined character in their name.

Ordering Information

Technical Support, Warranty


Ordering Information

Quick-Payment is available both as a DOS program and a Windows program, to order send $49.95 plus $4.00 shipping U.S., $9.00 shipping International, to:

J'Adoube

3335 East 4090 South

Salt Lake City, Utah 84124

or contact J'Adoube at (801) 277-6776

You will receive the most recent version of Quick-Payment.

Please specify DOS or Windows program.

Quantity Orders and Custom Logos

Other Programs Available


Ordering Information
Quantity Orders, Custom Logo's

Quick-Payment is available in quantity orders with a customized business logo on the opening screen and a business branch location database. The branch location information can be cycled on the main screen with the click of a button. For information or demo programs contact;

J'Adoube

3335 East 4090 South

Salt Lake City, Utah 84124

or contact J'Adoube at (801) 277-6776


Available Programs
Other Programs Available

Quick-Amortizer

Quick-Amortizer has been designed to be easy to use, it will quickly calculate loan payment and present loan balance information for your loan by simply starting the program. Optionally, you can store general loan details and loan servicer information. The program will allow you to view or print a full or partial amortization schedule for your loan, generate "What-If" scenarios of many types of loan conversions and principal reduction payments, showing the effect on the repayment of the loan.

Quick-Amortizer is available both as a DOS program and a Windows program, to order send $24.95 plus $4.00 shipping U.S., $9.00 shipping International.

Quick-Payment

QuickPayment is designed to quickly calculate loan payments, prequalifying information, and loan amortization schedules. QuickPayment compares four loan payments on four different loan programs simultaneously. This allows you to compare an unlimited number of loan payments and loan programs by entering the desired loan amount.

The prequalify portion of the program is equally easy to use, by selecting a loan amount and loan program, a qualifying amount can be determined in a few seconds. The loan program or any of the parameters used to calculate the qualifying information can be changed and the program will automatically adjust.

The loan amortizer displays and prints full or partial loan amortization schedules. Calculates interest rate buydowns, escrows for buydowns, the effects of principal reduction payments, and compares interest repayment amounts.

Quick-Payment is available both as a DOS program and a Windows program, to order send $49.95 plus $4.00 shipping U.S., $9.00 shipping International.

J'Adoube

3335 East 4090 South

Salt Lake City, Utah 84124

or contact J'Adoube at (801) 277-6776

Please specify DOS or Windows program.


Technical Support
Technical Support, Warranty

The original Quick-Payment disk is warranted against defects for a period of one year. Registered users of Quick-Payment may obtain life-time technical support by contacting:

J'Adoube

3335 East 4090 South

Salt Lake City, Utah 84124

(801) 277-6776

DISCLAIMER OF WARRANTY

QUICK-Payment IS SOLD "AS IS" AND WITHOUT WARRANTIES AS TO PERFORMANCE OF MERCHANTABILITY OR ANY OTHER WARRANTIES WHETHER EXPRESSED OR IMPLIED. BECAUSE OF THE VARIOUS HARDWARE AND SOFTWARE ENVIRONMENTS INTO WHICH THIS PROGRAM MAY BE PUT. NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE IS OFFERED. THE AUTHOR ASSUMES NO LIABILITY FOR DAMAGES, DIRECT OR CONSEQUENTIAL, WHICH MAY RESULT FROM THE USE OF QUICK-Payment. ANY LIABILITY OF THE SELLER WILL BE LIMITED EXCLUSIVELY TO PRODUCT REPLACEMENT OR REFUND OF PURCHASE PRICE.


Installation
Quick-Payment Installation

Select Run Program from the Windows Program Manager, enter the drive that the Quick-Payment disk is in, A:\ or B:\Setup.Exe. The installation program will install the program to C:\QPay and create a program group and icon for Quick-Payment.


Payment Calculator

The Payment Calculator compares four loan payments on four different loan programs simultaneously. This allows you to compare an unlimited number of loan payments and loan programs by entering the desired loan amount.

   Selecting a Payment Comparison Set

The current payment set name is displayed in the upper left portion of the screen. To select a payment set press the Down Arrow Key while on the set name, select the Down Arrow Button to the right of the sets name, or select Payment-Sets from the menu, this will provide a list of the available payment sets to select from. While selecting a payment set from a list of payment sets you may begin typing a name, the highlight will move to the first matching name as you type. When a new set is selected, the interest rates in the current set are saved, the payments are recalculated using the selected set and the current loan amount.

   Entering or Editing a Loan Amount

When you enter a loan amount and press the EnterKey or the GrayPlusKey, all the payment amounts will be calculated and the cursor will remain on the loan amount entry field, if you move to another field, all payments are recalculated. When exiting the program, the interest rates are automatically saved.

   Entering or Editing an Interest Rate

To select one of the four interest rates to edit, you can use the TabKey or the ArrowKeys to move the cursor to the desired rate, or press 1,2,3, or 4 while holding down the AltKey to move to the respective loan type's interest rate. While on one of the rate fields pressing the Space Bar or Right Clicking the mouse will bring up a buydown screen.

 	When entering an interest rate, you can enter any rate. Such as 8.375 or 8.1, when you use the Up and Down Buttons next to that rate or the Up Down Arrows on the keyboard, the rate is adjusted in .125 % increments.  When you change an interest rate, the payment for that rate is automatically recalculated and the new rate is saved.

   Entering or Editing a Monthly Payment

Select one of the four monthly payments and enter the desired monthly payment, the Loan Amount will be calculated for the desired payment and the remaining three monthly payments will be recalculated using the new loan amount.

Hot Keys

{Alt+1-4}   Select respective interest rate.

{Ctrl+1-4}  Amortize respective loan type.

{Shift+1-4} Display payment matrix for respective loan type.

Payment Sets

Amortization Summary

Amortize Loan

Payment Matrix

Seek Payment

Seek Payment LTV


Convertible Loan Setup
Payment Comparison Sets

The payment calculation screen uses payment comparison sets of four types of payments each. The current payment set name is displayed in the upper left portion of the screen. To select a payment set press the Down Arrow Key while on the set name, select the Down Arrow Button to the right of the sets name, or select Payment-Sets from the menu, this will provide a list of the available payment sets to select from. While selecting a payment set from a list of payment sets you may begin typing a name, the highlight will move to the first matching name as you type. When a new comparison set is selected, the interest rates in the current set are saved, the payments are recalculated using the selected set and the current loan amount.

You can edit, add, or delete the payment comparison sets. Quick-Payment will allow you to have a maximum of 255 payment comparison sets. To edit the available sets, select Setup Payment Sets from the FILE menu on the main program screen.


Convertible Loan Setup
Amortization Summary

To view the Amortization Summary, select Amortization Summary from the AMORTIZE menu on the payment calculator screen. The amortization summary shows basic amortization information for all four of the loan types in the current payment comparison set on one screen. This gives a quick comparison of the first payment breakdown and the total amount to be repaid during the life of the loan. To obtain a hard copy of the summary, select the PrintButton on the bottom of the amortization summary screen.

**NOTE** Arm programs are not handled properly in the amortization summary. Even when done properly, the disclosure of an Arm loan is very speculative. The information in the amortization summary in this case is shown for comparison purposes only, the repayment totals in reality may vary greatly from the amounts shown.


Convertible Loan Setup
Amortize Loan

The AmortButton located with each of the four payment types on the payment calculator screen may be selected by pressing 1,2,3, or 4 while holding down the CtrlKey. This will display a full amortization schedule for it's prospective loan type. The amortization may also be run from the AMORTIZE menu on the payment calculator screen. The amortization schedule will allow you to enter principal reduction payments and print the amortization or a selected range of payments from the amortization.


Convertible Loan Setup
Payment Matrix

The MatrixButton located with each of the four payment types on the payment calculator screen may be selected by pressing 1,2,3, or 4 while hold down the ShiftKey. The matrix displays a screen showing the variation in P&I payments for the selected loan type. Payments are displayed in .125 % rate increments on one screen. This instantly provides a list of the P&I payments from .50 % above the selected rate to .50 % below the selected rate.


Convertible Loan Setup
Seek Loan by Payment

The PmtButton located with each of the four payment types on the payment calculator screen allows you to work with Loan amounts, Payment amounts, Loan terms, and Interest rates. The initial loan amount is set to the loan amount from the main screen, and if altered, is used to replace the main screen loan amount. Once sufficient items are entered, the missing items will be calculated, once the items are calculated you can edit any of the items on this screen and you will be asked to select from the appropriate items to keep and the figures will be recalculated.

A.P.R. and Loan Costs can optionally be used to calculate the APR of a loan. The loan costs are entered as one item and must include all the proper items from the good faith estimate to calculate APR. Once the loan costs are entered, the A.P.R. will be displayed on the screen.


Convertible Loan Setup
Seek Loan by L.T.V.

Selecting the LTVButton located with each of the four payment types on the Payment Calculator Screen, or pressing the Space Bar or Right Clicking the mouse while on the P&I Payment, Down Payment, Loan Amount, Purchase Price, or L.T.V. fields in the Prequalify Screen, will allow you to work with Payment amounts, Purchase Price, Loan amount, Down payment, and LTV. The initial loan amount is set to the amount from the Payment Calculator Screen, or if called from the Prequalifying Screen the item matching the field called from is filled and if altered, is used to replace the fields value upon returning to the calling screen. If called from the Prequalifying Screen all five values will be returned and the qualifying screen will be recalculated. When a value is entered into any field, the blank fields will be calculated. When all the fields contain values, any of the items on the screen may be edited, you will then be asked to select which item to keep and the remaining items will be recalculated.

Selecting Items to Adjust

Values Returned to Calling Screen


LTV Adjust Items
Adjusting L.T.V.

The Seek L.T.V. Screen opens with a value in one item, as soon as a second value is entered into one of the fields that are blank, the remaining blank fields will be calculated. Once all the fields contain values, changing any of the values will result in a prompt to select the value you wish to keep. Select the value you wish to keep by pressing the Underlined Character in the items label while holding down the Alt-Key or Clicking on the desired item with the mouse The remaining items will be recalculated using the item entered and the item you selected to keep.


LTV Values Returned
Values Returned to Calling Screen

When the Seek LTV Screen is called from the Payment Calculator, the value in the Loan Amount field will replace the Loan Amount on the Payment Calculator screen. When called from the Prequalify Screen, all five values will be returned replacing the P&I Payment, Down Payment, Loan Amount, Purchase Price, and L.T.V. in the Prequalify Screen.


Loan PreQualifying

The PreQualify Worksheet is used to determine what loan amounts and what loan programs a borrower qualifies for. If entered from the Payment Calculator the loan amount from the Payment Calculator is used, otherwise the last loan used in qualifying, which is saved under No Name is used. When any of the items on the left side of the screen are modified, all values are recalculated to reflect the change. The areas on the right side of the screen initially show the estimated values in the left side of the box and the actual figures on the right side of the box, the primary housing expense on the actual side is calculated using default factors to  determine hazard insurance, taxes, MI or MIP as required. When the borrowers actual monthly income is entered, the borrowers ratios will display the loans front ratio. When the borrowers monthly debt is entered, the borrowers ratios will display the loans back ratio.

   Determining a Loan Amount

The loan amount can be found by entering a P&I Payment, Down Payment, Loan Amount, or Purchase Price. When any of these amounts are entered, the loan will be calculated using the currently selected Loan Program, if a new Loan Program is selected the most recent of these four items entered will be used as the basis to calculate the loan under the new Loan Program. While on any of these fields or on the L.T.V. field, pressing the Space Bar or Right Clicking the mouse will bring up a Seek LTV screen with an amount in the field matching the field called from. By entering an amount into any of the blank fields, the blank items will be calculated. When exiting this screen, the values will be returned to the qualifying screen.

   PreQualify Hot Keys

{Ctrl+I}Calculate the maximum loan based on the borrowers income.

{Ctrl+R}Calculate the maximum loan based on available cash.

{Ctrl+A}Amortize Loan, creates an amortization schedule for the present loan.

   Loading And Saving PreQualify Worksheets

To select a previous worksheet, Select Borrower Files from the menu, press the Down Arrow Key, or Click on the Down Arrow Button to the right of the customer name field. This will provide a list of previous customer names, or to add a new customer, type a name in the entry field. When exiting, if the customers name is still 'No Name' you will be given a chance to enter a customers name. If you select not to rename the customer, the current values are saved under the name of 'No Name'.

PreQualifying Functions

   Maximum Loan on Borrowers Income

When selected from the Function Menu, if the borrowers income is blank, you will be asked for the borrowers income, the loan will be recalculated to arrive at the maximum loan that the borrower can qualify for using the current loan program.

   Maximum Loan on Borrowers Cash

When selected from the Function Menu, you will be asked to enter the amount of cash available to the borrower. The loan will be recalculated to arrive at the maximum loan that the borrower can receive using his required investment for the current loan program.

Primary Housing Expense

Stable Monthly Income

Other Monthly Debt

Estimated Closing Costs

Estimated PrePaid Items

Loan Program Selection


Convertible Loan Setup
Primary Housing Expense

Primary housing expenses are calculated using default values, you may change any of the values. As each item is entered the total is adjusted to reflect any changes. When you exit this screen the total is shown on the button face under actual. When LTV is over 80 % on a conventional loan or the loan is a FHA loan, PMI or MIP respectively, are added to the primary housing expenses, using the factors in the program defaults.


Convertible Loan Setup
Stable Monthly Income

Stable monthly income may be any type of income, selecting the button that indicates the type of income, the amount will be converted to reflect monthly income, and added to the total. When you exit this screen the total is shown on the button face under actual, and the front loan ratio ratios is calculated. The estimated other monthly debt allowed is recalculated and displayed in the left side of the other monthly debt area under allowed.


Monthly Debt
Other Monthly Debt

The other monthly debt screen is used to total several monthly debt amounts. When you exit this screen the total is shown in the debt area under actual, and if the borrowers income has been entered, the back loan ratio under the borrowers ratios is calculated.


Estimated Closing Costs

The Closing Costs form initially uses the figures from the default form that is filled in by selecting Program Defaults from the File Menu on the main screen. Loan Origination Fee is initially set to the default number, you may enter an origination fee by entering the origination points or an origination amount. When you enter points, the fee will be calculated from the loan amount. When you enter a fee, the points will be changed to zero. The items in the closing costs form may be changed or added from the initial default values and the form will be totaled as it is completed.


Estimated PrePaid Items

The PrePaid Items form initially uses the figures from the default form that is filled in by selecting Program Defaults from the File Menu on the main screen. When you enter this screen, some items may be disabled, for example if you are calculating a conventional loan program with a LTV of 80 % or less, the PMI entries will be dimmed. The costs in the prepaid items form may be changed or added from the initial default values and the form will be totaled as it is completed.


Loan Program Selection

By selecting Loan Program on the menu, you are provided with a list of the available loan programs, when you select a new program, all values are recalculated to reflect the new programs requirements. You can add, delete, or edit loan programs by selecting Loan Program Setup from the Files Menu on the main screen.

   F.H.A. Loan Programs

When you select a F.H.A. loan program, the loan amount shown is the loan amount without MIP, when you move from the loan amount field, the amount is displayed as the F.H.A. loan amount, which is the loan amount adjusted to reflect the upfront MIP insurance that is added to the loan amount on all F.H.A. loans. When you select the purchase price entry field it will display the actual purchase price, when you move from the field, the price will be displayed as the FHA price which includes FHA allowable closing costs added to the purchase price.


Loan Amortizer
Amortize Loan

Select Amortize from the menu, available in both the payment calculator and the prequalify worksheet. The Amortization Screen displays a scrolling list of each loan payment. The amortization screen also displays the remaining loan balance {for a Balloon Loan}, the first payment date, the last payment date, the total interest paid and total repaid over the life of the loan. If pre-payments are entered the current and previous interest amounts are displayed.

The list may be scrolled horizontally to display sub-totals of the principal and interest paid at any point in the amortization.

Amortization Loan Type

Amortization Sub-Totaling

Principal Reduction Payments

Printing an Amortization

Interest Rate Buydowns

2/1 Loan Buydowns


Amortization Loan Type

Selecting program from the menu you can select, Fixed Payment, Arm Payment, or Balloon Payment. When selecting a payment type you will be asked to input the relevant parameters. The amortization will be recalculated to reflect parameters you have entered.


Amortization Subtotal
Amortization Sub-Totaling

Selecting subtotals from the menu allows you to select the number of months used for subtotal periods. The based on option allows the selection of Calandar, the subtotals are calculated based on January through December, First Payment, the periods begin with the first payment date.


Principal Reduction
Principal Reduction Payments

Selecting PrePayment from the menu allows you to enter any number of principal reduction payments, the amortization will be rerun and the effect of the principal reduction payments will be shown in the list of payments, total interest paid, and the last payment date. If the amortization is rerun, the current total interest paid over the life of the loan is displayed under {Previous}, the total interest for the new amortization is then displayed under {Current} and the difference between the two is displayed under {Change}.


Print Amortization
Printing an Amortization

Selecting Print Amortization from the Utilities Menu on the amortization screen allows you to select the payment numbers for the printout, the numbers first displayed are for a full printout {First through Last payment numbers of the current loan}. After selecting O.K. the report will be displayed on the screen, you can then select the option of canceling or printing the report.


Interest Rate Buydown

Selecting Rate Buydown from the Utilities Menu on the amortization screen allows you to enter the points required to buydown an interest rate, while on the Buydown Points field you may enter the desired points, use the Up Button, Down Button, Up Arrow Key or Down Arrow Key to respectively raise or lower the points. The points are translated to the cost to buydown this loan and displayed as the Buydown Cost. The New Interest Rate field initially displays the interest rate of the loan you are working with. Enter the new interest rate or use the Up Button, Down Button, Up Arrow Key or Down Arrow Key to respectively raise or lower the interest rate. As the interest rate is changed, the perpayment and life of loan savings are displayed. When exiting this screen, by selecting the O.K. button, if the new interest rate has been changed from the original interest rate, the loan will be reamortized to show the new interest rate.


Loan Buydown
2/1 Buydown

Selecting 2/1 Buydown from the Utilities Menu on the amortization screen will allow you to calculate the interest rates and buydown escrow for a 2/1 buydown. The first interest rate is initially set to 2 % below the interest rate of the loan you are working with, you can enter any starting rate. When you complete the initial rate field, the second and remaining rates are calculated along with the buydown escrow required to subsidize the first two years payments.


Printing Forms

Windows Printer Setup

Amortization Summary

Full or Partial Amortization

Prequalification Worksheet

Good Faith Estimate

Truth in Lending Sheet

Loan Comparison Sheet


Printer Setup

Selecting Printer Setup from the Files menu on the main screen will provide you with the standard windows printer setup dialog. From this screen you may select the printer and set the printers options.


Print Amortization Summary

Selecting the Print Button on the bottom of the amortization summary screen will print a copy of the current summary. The report will be displayed on the screen, at this point you may select Cancel to return to the amortization summary screen or Print to print the report.


Print Amortization

Selecting Print Amortization from the amortization screen, you will first be allowed to select the range of payments to print. The range defaults to all of the payments in the current loan. You may select a portion of the amortization to print by entering the first and last payment numbers to include in the printout. The report will be displayed on the screen, at this point you may select Cancel to return to the amortization screen or Print to print the report.


Print Prequalify Worksheet
Printing a PreQualification Worksheet

Selecting print Prequalify Worksheet from the Print Menu on the prequalify screen will print a Prequalification Worksheet based on the currently loaded borrower. First you will be provided with a list of the available Notes for this form. Select the desired notes by pressing the Space Bar or Right Clicking the mouse on the desired notes, after the selections are made select the O.K. Button. The form will then be generated and displayed on the screen, you may select Cancel to return to the prequalify screen or Print to print the form.


Print Good Faith Estimate

Selecting print Good Faith Estimate from the Print Menu on the prequalify screen will print a Good Faith Estimate based on the currently loaded borrower. First you will be provided with a list of the available Notes for this form. Select the desired notes by pressing the Space Bar or Right Clicking the mouse on the desired notes, after the selections are made select the O.K. Button. The form will then be generated and displayed on the screen, you may select Cancel to return to the prequalify screen or Print to print the form.


Print Truth in Lending

Selecting print Truth in Lending from the Print Menu on the prequalify screen will print a TIL Sheet based on the currently loaded borrower. First you will be provided with a list of the available Notes for this form. Select the desired notes by pressing the Space Bar or Right Clicking the mouse on the desired notes, after the selections are made select the O.K. Button. The form will then be generated and displayed on the screen, you may select Cancel to return to the prequalify screen or Print to print the form.


Print Loan Comparison
Print Loan Comparison Sheet

Selecting Print Loan Comparison from the Print Menu on the prequalify screen will provide a list of loan comparison sheets. From this list you may Add Insert Button, Edit Change Button, Remove Delete Button, or Select Select Button. By selecting Insert or Change you will be allowed to edit a form providing the parameters for the three loan comparisons and the Titles and Footnotes for the printout. When Inserting a new Loan Comparison Sheet, the initial values will be used from the current loan in the Prequalify Screen and the three loan comparison types will be set to the first three loan programs from the available loan programs. After moving the highlight to the desired form in the list, use the Select Button to pick the comparison sheet or select the Cancel Button to cancel the process and return to the Prequalify Screen.

After selecting a loan comparison sheet you will be provided with a list of the available Notes for this form. The note selection screen displays a scrolling list with a description of each note, below the scrolling list is a box displaying the contents of the note that the highlight is currently on. Select the desired notes by pressing the Space Bar or Right Clicking the mouse on the desired notes, you may select the Change Button to edit the contents of the paragraph. After the selections are made select the O.K. Button, the sheet will be generated and displayed on the screen, you may then select the option of printing the sheet or canceling the printing.

Editing a Comparison Sheet

Using The Note Selection Screen


Edit Loan Comparison Sheet
Editing a Loan Comparison Sheet

Selecting Insert or Change from the list of loan comparison sheets allows you to edit the content of a sheet. The top area of the sheet provides a name for the comparison sheet. Enter a purchase price, the same price is used in calculating all three loan types. Select the three desired loan types, along with the L.T.V.{loan to value}, interest rate, and the term in months for each loan type. The Hazard Insurance and Tax fields may be used to enter desired values and a lock icon will be displayed, if the value in these fields is 0, the Tax and Hazard Insurance will be calculated by the program. The Mortgage Insurance field functions the same way with the additional option of using the Lock Button to the right of the entry, the Mortgage Insurance may be locked at 0 and no M.I. will be calculated. The bottom of the screen provides entry of a loan description for each of the three loan types. Each description provides three optional short text entry lines if nothing is entered on a line the line will be blank, when printed if all three lines of a loan description are blank, the center line will print the program type,(Conventional/FHA/VA).

The body of the form has several fields to enter text lines. The labels to the left of each line of text is suggestive of what could be entered on each line. The text need not be entered, if a line is blank that line will not print. The bottom of the form has two footer lines which are below the bottom edge of the screen, as you move through the text lines, the screen will scroll down to the two footer lines.

Editing Optional Text Lines


Loan Comparison Sheet Text
Editing Optional Text Lines

The loan comparison sheets allow you to edit several optional lines of text. These lines are designed to afford the end user the maximum versatility in the customization of a loan comparison sheet, while trying to retain the simplicity of generating a comparison sheet. There are five lines in the top area of the sheet and two additional footer lines at the bottom of the sheet which are not visible when the screen is opened, the screen will scroll down to access the footer lines as you move through the entry fields.

The seven optional text lines all function in the same manor. To the left of each line is a label suggestive of what could be entered in the line. The text in each line is optional, if no text is entered the line does not print. As text is entered it is automatically centered in the line. The entry mode is Proper Name Capitalization, where the first letter of each word is capitalized and all other letters are lower case. To the right of each line is a Font Button, selecting this button allows the user to select the font name, font size, font color, and font style for each line individually from the available windows fonts.

When selecting font sizes, the program does not limit the selection, using a large font may overlap the text on the following line. A larger font size may be used by leaving the following text line blank. Using True Type Fonts will allow you to experiment with different font sizes and check the results by viewing the Print Preview Window.


Form Notes
Selecting Form Notes

When printing forms, you are provided with a screen displaying Notes for the selected form. The notes may be selected or deselected by pressing the Space-Bar or Right-Clicking the mouse. The content of the highlighted note is displayed at the bottom of the screen. You may edit the content, add new notes, or delete notes.

The color selection portion of this screen allows you to select the horizontal line colors and the background colors for the boxed areas on relevant forms. If using a color printer, the areas of the form will print in the selected colors, other printers will convert the colors to shades of gray.

The number of copies defaults to one copy and may be set to print multiple copies of a form.


Payment Set Setup
Payment Sets Setup

Selecting or Adding a Set

Entering The Sets Parameters


Selecting a Payment Set
Select Payment Comparison Set

Selecting Payment Set Setup from the Files menu on the main screen will provide you with a list of the available payment comparison sets. To modify the payment sets, move the highlight to the desired set and select the Change Button to edit, the Delete Button to remove the set, or select the Insert Button to create a new payment set.

Quick-Payment allows the creation of a maximum of 255 payment comparison sets. To locate a set in the list, start typing the set's name and the highlight will move to the nearest match to the name you are entering.


Edit Payment Set
Editing a Payment Comparison Set

After selecting a payment set to edit, you are provided with a screen to enter the parameters for a payment comparison set. First give the set a short name, descriptive of the types of payments in the set. Give each of the four comparisons a name with a maximum of 15 characters. Enter the loan term in months for each of the four comparisons. Enter an interest rate for each of the four comparisons. The Interest Rate is dynamically updated as you use the payment sets, each time a rate is changed, the new rate is saved.

When entering an Arm or Balloon loan, enter the loan term as 360 months, this is the term that the loan is amortized.


Loan Program Setup

Select or Add a Loan Program

Entering Loan Program Parameters


Select Loan Program
Selecting a Loan Program

Selecting Loan Program Setup from the Files menu on the main screen will provide you with a list of the available loan programs. To modify a loan program, move the highlight to the desired program and select the Change Button to edit, the Delete Button to remove the program, or select the Insert Button to create a new loan program.


Edit Loan Program
Editing a Loan Program

After selecting a loan program to edit, you will be allowed to enter the parameters for a new or existing loan program.


Quick Payment Setup
Quick-Payment Setup

Entering User Information

Setting Default Factors


User Information
Entering User Information

Program Registration from the Files menu on the main screen will allow you to enter user information. The User and Company names can not be changed once entered, so please enter them carefully. The address and phone information may be altered at any time.

Entering The User Address

     The program provides two lines for entering address information, there are several ways the address may be entered, determining how the address is printed on the forms.

     {First Line Only} If only the first address line is filled in, the address will be printed on two lines, first line the street address, second line the City, State, Zip. @ie:

                    3335 East 4090 South

                    Salt Lake City, Utah 84124

     {Second Line Only} If only the second address line is filled in, the address will be

  printed on one line and include the City, State, and Zip Code information. @ie:

            3335 East 4090 South Salt Lake City, Utah 84124

     {Both Lines Used} If both the first and second address lines are filled in, the address will be printed on two lines, first line address line one, second line the second address line will be printed with City, State, Zip. @ie:

               P.O. Box 8333

               3335 East 4090 South Salt Lake City, Utah 84124

Entering Phone and Fax Numbers

     The program provides for two phone numbers and a fax number, these are printed several

  ways depending on which numbers are filled in.

     {First Phone Only} If only the first phone number is entered, the number will print centered below the last address line. @ie:

                             (801) 2776776

     {First Phone and Fax Only} If the first phone number and the fax number are entered, they will be labeled as PHONE and FAX and printed centered on the first line below the last address line. @ie:

                PHONE: (801) 2776776 / FAX: (801) 2776666

     {First Phone, Second Phone, and Fax} If both phone numbers and the fax number are entered, they will be printed centered on the first line after the last address line. @ie:

           PHONE: (801) 2776776 / (801) 2776776 FAX: (801) 2776776


Edit Program Defaults
Editing Program Defaults

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. These factors include factors for Hazard Insurance, Property Tax, PMI, MIP, V.A. Funding Fees, Closing Costs, Prepaid Costs, and Title Insurance / Escrow Fee Calculations.

Setting Hazard Insurance Factors

Setting Property Tax Factors

Setting Conventional Mortgage Insurance Factors

Setting F,H.A. Mortgage Insurance Factors

Setting V.A. Funding Fees

Setting Closing Costs and PrePaids

Setting Title Insurance and Escrow Fees


Hazard Insurance Factors

The Hazard Insurance Factors allow you the option of using a Single Factor or Factor Curve. The Single Factor will multiply the loan purchase price by the single factor to calculate the hazard insurance costs of a loan regardless of the size of loan. The Factor Curve will use three factors to calculate the hazard insurance costs dependant on what range the purchase price falls within, Small, Medium, or Large. To the right of the factor type selection are the four factors used for the calculations. Directly below the factor type selection is a button labeled 'Hazard Calculator', selecting this button produces a calculator for calculating the factors.

Hazard Insurance Factor Calculator


Hazard Calculator
Hazard Insurance Calculator

Selecting the Hazard Calculator Button in the Hazard Insurance Factors area provides a calculator for determining the factors used in calculating the hazard insurance for a loan. The calculator provides four areas to enter purchase prices, the approximate suggested value is displayed below each entry. To the right of each purchase price are entries for the insurance cost and the factor. The hazard insurance cost may be entered as a yearly or monthly cost, if the monthly cost is entered use the button directly below the entry to convert the amount to a yearly cost. When the cost is entered, the factor is automatically calculated and displayed. If the factor is entered the yearly cost will be calculated and displayed.


Tax Factors

The Tax Factors allow you the option of using a Single Factor or Factor Curve. The Single Factor will multiply the purchase price by the single factor to calculate the property tax for a loan regardless of the size of the loan. The Factor Curve will use three factors to calculate the property tax dependant on what range the purchase price falls within, Small, Medium, or Large. To the right of the factor type selection are the four factors used for the calculations. Directly below the factor type selection is a button labeled 'Tax Calculator', selecting this button produces a calculator for calculating the factors.

Tax Factor Calculator


Tax Calculator

Selecting the Tax Calculator Button in the Tax Factors area provides a calculator for determining the factors used in calculating the property tax for a loan. The calculator provides four areas to enter purchase prices, the approximate suggested value is displayed below each entry. To the right of each purchase price are entries for the tax cost and the factor. The tax cost may be entered as a yearly or monthly cost, if the monthly cost is entered use the button directly below the entry to convert the amount to a yearly cost. When the cost is entered, the factor is automatically calculated and displayed. If the factor is entered the yearly cost will be calculated and displayed.


Conventional Factors
Conventional Loan Factors

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. The Conventional Factors area contains the factors for the Primary Housing Expense estimate, and the factors used to calculate Private Mortgage Insurance.


F.H.A. Factors
F.H.A. Loan Factors

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. The F.H.A. Loan area contains factors for determining the Primary Housing Expense estimate, and the F.H.A. Mortgage Insurance Factors.


V.A. Factors
V.A. Loan Factors

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. The V.A. Loan area contains factors for determining the Primary Housing Expense estimate, V.A. Funding Fees, Reservist Factor, and V.A. Area.


Closing Cost Defaults
Closing Cost & PrePaid Defaults

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. The button labeled 'Setup Example Forms' will provide an example closing cost form and an example PrePaid Items form. When filling in the forms, some items do not apply and their entry fields are disabled, for example the title insurance in the closing costs form is calculated for each loan using the programs default factors. The days of PrePaid interest in the PrePaid Items default form is used for conventional loans, F.H.A. loans use 30 days.


Title and Escrow Factors

Selecting the Program Setup from the Files menu on the main screen will provide you with a screen to edit the Default Factors used by the program in calculations. The Title Insurance area contains a button labeled 'Setup Title Factors', selecting this button provides a form to enter the Title Insurance and Escrow factors.

Title Insurance Factors include a Base Amount added to the range calculations, the percent entered into the Buyers Portion is calculated from this total. There are five areas to enter 'Ranges' with a price per-thousand to their right. The portion of the loan falling between the range entered and the next range will be calculated at the price per-thousand to the right of the range. All five ranges need not be used, if a range is $0.00 it is ignored in the calculations.

Escrow Fees allow you to select the 'Type' of escrow calculation, Fixed, Factor, or Calculated. Fixed Amount provides an entry field for a dollar amount used regardless of the loan amount. Use Factor provides for a factor that the loan amount will be multiplied by to determine the escrow fee in relation to the size of the loan. Selecting Calculated will use the Escrow Factor table, the table works the same as the Title Insurance Factors.