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            Loan Calculator for Digital Lending

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            Loan Calculator for Digital Lending

            Help applicants with basic calculations on common loan types, such as mortgages, student loans, and personal loans by adding the loan calculator to any phase of the loan application journey. Clients can find how much they can afford to borrow based on their income, expenses, and other factors. Clients, whether they’re first-time home buyers or owners of multiple investment properties, can use the loan calculator to quickly calculate their loan payments and view their amortization schedule, payment, and interest rates.

            Required Editions

            Available in: Lightning Experience

            Available in: Professional, Enterprise, and Unlimited Editions

            Educate applicants on the impact that loan terms and interest rates have on their overall financial contribution to a loan. For example, in the easy-to-use loan calculator, clients can update the loan amount, loan term, and interest rate to view the monthly payment, principal, and interest rate. They can customize the values in the loan calculator view and compare the total loan amount, principal, and interest paid over the loan term.

            • Set Up the Loan Calculator
              Add the DigitalLendingLoanCalculator Flexcard to any phase of the loan application journey so that agents and applicants can calculate the loan details.
            • Loan Calculator Formula Reference
              Understand how Digital Lending calls payment calculation functions to project loan costs and repayment schedules. Verify the repayment calculations for financial accuracy and compliance. Use these calculations to validate loan projections and explain interest savings or tenure reductions to borrowers.
             
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            Salesforce Help | Article