Estimated Closing Costs

The Estimated Closing Costs for APR Calculation grid enables the estimated closing costs to be included in the APR, which will provide an estimated APR while prices are quoted.

The values in the grid will only be applied if no values are passed from Encompass.

To Configure the Estimated Closing Costs for APR Calculation Grid:

  1. Select the Estimated Closing Costs link.

  2. Select which loan purpose (Purchase, Refinance (Rate-Term and Cash Out, or Construction and Construction-Perm) you will be adding closing cost values to.

If you enter values on one tab, and then navigate to another tab without selecting Save, the value you entered on the original tab will remain when you navigate back to the original tab.

  1. The top row will be the values applied to each loan product unless a specific state’s values are listed.

  2. To add a state’s values:

  • Select the Add State link.

  • A new row will be added to the bottom of the list.

  • Select the state.

  • A state can only be displayed once in the grid.

  • Add a value for each loan product.

  • No decimals are allowed.

  • You can leave fields in the row blank, as needed.

  1. To delete a state’s values, select the Delete link at the end of the row, and then select OK when prompted.

  2. Select Save to save your changes.

  • The states you enter will be displayed alphabetically.

  • A row will be automatically deleted if no values are added to any of the fields.

  • The count displayed in each tab header will be updated (e.g., Purchase (7)).

  • If an invalid value is entered in any of the rows or if a field is left blank on the top row, a warning message “Enter Estimated Closing Costs value between $0 - $999,999. Decimals are not allowed.” will be displayed.

  • If a duplicate state is entered, a warning message “A State can appear only once in the grid.” will be displayed.