THE INTERPRETER Real Estate Counseling Program

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THE INTERPRETERReal Estate Counseling Program
TutorialLoan and Rate Selection
Click mouse to advance to next slide Right click
mouse for other options
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Loan and Rate Selection
From the Main Input Screen, select either of
these links to change the loan program or
rate selection.
TIP Although other input screens in THE
INTERPRETER allow you to change loan program
selection, this is the only access point to view
all loan pricing for each loan program.
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Loan and Rate Selection
Partial Screen View
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Loan and Rate Selection
Change Rate Selection
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Loan and Rate Selection
About AutoSelect
Use the AutoSelect rate selection to maximize
the purchase power of the Total Initial Cash
constraint. AutoSelect selects an available
rate/points combination that will fit the
amount of Seller-Paid Subsidy. If the rate
selections available include rates with premiums
(i.e. "negative points"), the premium is used to
reduce closing costs. Because AutoSelect also
attempts to maximize the use of available seller
paid subsidy, the points or premium found may not
result in the lowest Total Initial Cash that
could be found however, the use of lower points
(or higher premium) would result in the use of
less seller paid subsidy than is available.
TIP Always find purchase scenarios using the
AutoSelect rate selection if there are cash or
payment constraints. Then use Find Best Rate
for Tenure to present rate options to the buyer.
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Loan and Rate Selection
Loan Pricing may be user defined.
TIP To deal with required across-the-board
pricing adjustments or adjustments due to low
credit score, select Adjustments.
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Loan and Rate Selection
Select this link to view any required pricing
adjustments and/or to make loan price or certain
other cost adjustments.
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Loan and Rate Selection
Selected on rates page
Select Adjust to make across-the-board
pricing adjustments, adjust term or adjust
appraisal, credit report and pest letter
fees.The adjustments will apply until the loan
program is changed.
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Loan and Rate Selection
There are two groups of up to 14 loan programs
each.
OR
TIP These are combo 1st and 2nd loans that blend
the rates.The blended rates will be accurate
only at the maximum loan-to-value.
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Loan and Rate Selection
A rate update advisory may appear near the
top of the screen.
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Loan and Rate Selection
To import the most current rates and loan
programs, select the Update button. You must
be online.
TIP Select this to view the selected loans
guidelines and parameters. (See next screen.)
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Loan and Rate Selection
Selected on rates page