Payment Estimator
You can now provide your customers a monthly payment estimate with just a few pieces of information. Add the loan amount, then play with the loan term and APR to display the monthly payment. Just log into your account and select "Payment Estimator" in the left sidebar menu. Alternatively, here is the direct link to the Payment Estimator.
How to get started?
Type in the loan amount or use the slider to display the Estimated Monthly Payment and the associated Term and Estimated APR. The estimator will automatically default to the longest term and lowest APR available for that loan amount.
How is the lowest monthly payment on the Estimator calculated?
When you enter the desired loan amount (or use the slider to select desired loan amount) the calculator will automatically calculate the lowest monthly payment option and display this in the middle of the Estimator by defaulting to:
the longest loan term available for the selected loan amount
the lowest APR available for the longest loan term with the best credit profile
To see other variations on term, APR and monthly payment, you can move the sliders in each section to get a sense for how the payment amount changes based on those terms and the customer(s) potential credit profile.
How do I use this Estimator?
Save time and keep your projects from getting stalled by using the monthly payment shown by the Estimator instead of focusing on only the total project cost.
What does the QR code do?
Once you've adjusted the estimator for your customer, they can actually scan the bar code with their camera app on their mobile devices. This will take them directly to your co-branded loan application and pre-fill the amount of the project. They can then finish the application to receive their pre-qualified offers. You can always send them the link to your application from your home page of the portal as well.