Custom Loan Template Window

Window for editing a custom loan preset.

Get here from Loan > New Loan > Manage Custom Loan Types > click the New or Edit button.

A custom loan template lets you specify a set of default values to populate in the loan wizard when creating a new loan. If you have several “Loan Products” that have specific rates and lengths of time it may be helpful to codify them as custom loan templates.

Loan Template Name – the heading that will appear on the Loan > New Loan menu.

Description – the second line of the menu item, providing more detail about the loan product.

Base Loan Wizard – choose the loan wizard that will show when you create a loan with this custom template. The wizard chosen will change the options displayed on the rest of the window. These options match the options on the Portfolio Settings > Defaults tab for each of the base loan wizards.

If you only have one standard loan type – a 360 month loan for example – you can just edit the defaults for new loans in the portfolio settings.

If you had several products - like a $2500 loan at 9% for 12 months, and a $5000 loan at 8.5% for 48 months – you could make two loan templates to reflect these two options. Then, when you create a loan, you can choose the shorter or longer loan from the Loan > New Loan menu to have the amounts, rates, and payment count prefilled to the desired numbers.