Customizing Projected Payments Tables

On the Loan Estimate Page 1 or Closing Disclosure Page 1, use the Customize checkbox and the Edit button in the Projected Payments section to customize the Projected Payments tables for use with Construction, Construction-Perm, and Other loan types.

Changes made to the Projected Payments table on the Loan Estimate Page 1 or the Closing Disclosure Page 1 are applied to the Projected Payments tables on both of these disclosure forms.

To Customize the Projected Payments Table:

  1. On the Loan Estimate Page 1 or Closing Disclosure Page 1 input form, select the Customize checkbox in the Projected Payments section, and then click the Edit button.

  2. On the Edit Projected Payments Table pop-up window, use the Number of Columns dropdown list to display as many as four columns (payment periods) on the table.

  3. In each column:

    • Select the P&I Range checkbox to make the Principal & Interest payments a range with minimum and maximum value fields. Clear the checkbox to make the Principal & Interest payments one field in which a single value is entered.

    • Select the More than a year checkbox to make the Period entry a range of years with a beginning and an ending year. Clear the checkbox to make the Period entry cover a single year.

    • If the table includes more than one column, you can select the Final Payment checkbox in the last column on the right to make the column represent the final payment for the loan: the Period field will be removed, and the Principal & Interest field will be changed to a Final Payment field.

  4. For tables with multiple columns, enter the Year or Years in each column. The years entered in the columns must be in chronological order from left to right across the columns and must match the term of the loan.

  5. Enter Principal & Interest payments in each column.

  6. Select the Interest Only checkbox as needed.

  7. For tables with multiple columns, enter Mortgage Insurance as needed.

  8. Enter the Estimated Escrow amount as needed. For tables with multiple columns, enter the Estimated Escrow amount in the 1st Period column. The escrow amount populates across the remaining columns in the table.

  9. When finished, click OK.

    If you edit and save a customized Projected Payments Table and then clear the Customize checkbox, the customized configuration is deleted. Selecting the Customize checkbox again does not restore the deleted configuration.