How to do a Funding Position

The Funding Position calculates all the loan amount, security values, LVR, LMI, stamp duty and other fees to provide a summary position.

What can a Funding Position do? 

It can be used in a number of ways, for example, to work out:

• Maximum loan amount based on savings.
• Required funds for a specific loan amount or LVR.
• Required funds for a specific scenario.

Funding Position Tutorial 

The tutorial below runs through a basic Funding Position scenario. 

It's advisable to view this webinar in HD to avoid blur.  Click on the button >> set the Quality to 720p 

Open a Funding Position - Calculators tab

1. In the Calculators tab, select Funding Position in the left-hand panel.
2. Click New Funding Pos.
3. Enter details as required. 
   
   

Open a Funding position - 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 Funding Position.
4. Enter details as required.
5. The Summary Position will show the difference between "Total Available" and "Total Required" based on funds and debts entered in the calculation.

Attaching a Funding Position calculation to an Opportunity

You can attach a Funding Position calculation to a new Opportunity. Refer to Linking People Records and Calculators to an Opportunity  

LMI Quote

1. Click Get LMI Quote to get an estimate of the cost of LMI for each of the lenders on our panel based on the details on the rest of the funding position. Note: this is only an estimate.
2. Some lenders (eg. CBA) have different LMI premiums depending on the loan purpose. Read the notes next to each lender to decide if you should use the lender's LMI calculator for your scenario. 
3. Note: The LMI estimate will be using the total loan amount and LVR. If this is an increase for construction - use the lender's LMI calculation where appropriate for the LMI figure.

Basic Examples

First Home Owner Purchase

Investment Property Purchase with Equity from Owner Occupied

Construction on Existing Vacant Land

Note: The LMI estimate will be using the total loan amount and LVR. If this is an increase for construction - use the lender's LMI calculation where appropriate for the LMI figure.

Basic Bridging Example 

For Bridging you will have a Property for sale and another being purchased. The amounts and whether there is any end debt will be different in each application.

ACT Home Buyer Concession

For first home buyers in ACT to apply the Stamp Duty discount use the 'Home Buyer Concessions ACT' checkbox. This will appear when the Property Location ACT is selected.

Note : For property location WA all metropolitan suburbs are 26th Parallel South.

Lower Valuation

If the clients have signed a building contract and then the valuation comes in lower. You will need to enter the security and construction values as per the valuation. The deficit would need to be provided by either the clients or potentially the builder.