Create a Loan Pricing Calculator

A Loan Pricing Calculator helps refine the data you receive from an audience you have built.  The Calculator applies a formula of Monthly Savings = Current Payment minus new proposed rate to your current loan payment.  The Calculator will also calculate the next extended loan term and the additional savings that result from a new loan term.

Step 1 From the Home page

To create a new Calculator:

  1. Click the Tools tab on the navigation bar
  2. On the drop down menu, click Calculators

You will be redirected to the Calculators list display page.

Step 1 From the Home page

Step 2 Calculators list display page

On the  Calculators list display page:

  1. Click the blue Create button
  2. On the drop down menu, click Calculators

You will be redirected to the Create new Calculator page.

Step 2 Calculators list display page

Step 3 Create new Calculator

On the Create new Calculator page:

Type the name of the calculator - we suggest you use something descriptive that will make it easy to identify what the calculator is to be applied to.  Name is a required field.

Step 3 Create new Calculator

Define the range of the Calculator

Use this section to create FICO Bands for the matrix Calculator - you may have one or many bands within the Range.

Each band must have a Name, a From, and a To.

The From and To fields must be numeric and between the values of 200 - 900.

Band Names must be unique and may only contain alphanumeric characters.

To add additional bands, click the blue Add New Band button.  Each band you create must have a range Matrix created as well.

Define the range of the Calculator

Define the range Matrix

Use this section to create a matrix for your Calculator.

The format for the rate percentage is a maximum of three decimal places. Example: .010, 1.25, 3.99

The matrix behaves in a similar fashion to a spreadsheet.  You may right click on a cell and expand a pop up menu that allows you to remove rows, insert rows as well as remove and insert ranges.

You can navigate from one band to the next by clicking the blue Previous and Next buttons

  1. The From and To is the term of the loan in months  - in this example, the term is 24 months through 24 months
  2. The minimum and maximum of the loan balance to be added to the criteria is entered in the row below  the loan term
  3. The proposed interest rate is entered in the cell under the From figure
Define the range Matrix

Once you have added as many bands as necessary and completed input of the range Matrix, you may scroll to  the top of the page and click the blue Save button.  You will be redirected to the Calculator list display page.

The Calculators are displayed, by default, by the most recently created and their system assigned id number.  You may also sort the Calculators by name by clicking the Name field header on the page.

Calculators are available for use when building an audience immediately.