How to do a Borrowing Capacity Calculation

Dashboard Tab

1. Click on Start a Borrowing Capacity

Calculators Tab

1. In the Calculators tab, select Borrowing Capacity in the left-hand panel.
2. Click New Borrowing Capacity
   
   

From and Opportunity

1. Open the Opportunity in the CRM tab.
2.  Select Calculations from the left-hand panel.
3. Click the green plus symbol to open a new Borrowing Capacity
   
   
   

How to do a Calculation

1. The below screen will appear
2. Enter the applicant's details
   
   Note: You can override the Living Expenses for the applicant. If the expenses are lower than the lender's amount, their amount will be used. 

3. Enter the Income and Expenses except for Real Estate income, for all applicants 

4. Enter the Existing Real Estate details

    

   Note: Only Real Estate that is not marked as 'To be purchased' or 'Clearing from this Loan' on the opportunity will populate here.

5. To add Rental Income for a future Investment property or Investment property being refinanced. Just add a New Asset and only complete the Rental Income Frequency and Amount. Leave the Loan details fields blank.

6. Apply the ownership % for each applicant. 

    

7. Click on Calculate and the results will populate

    

Attaching a Borrowing Capacity calculation to a new Opportunity

You can attach a Borrowing Capacity calculation to a new Opportunity.

Refer to: How to link People Records and Calculators to an Opportunity 

Included lenders

You will find few lenders are missing when performed Borrowing Capacity Calculation in Mercury. The reason for this is, some lenders have not requested NextGen to enable them to be reflected in Mercury in search results.