All Categories > LMS UI > Loans Tab > Loan Calculations

Introduction. LoanPro originally built its Loan Management System (LMS) to solve two problems. First, to make sure the calculations are accurate and second, to bring transparency to system data. You…

Updated 8 months ago by Andy

This article will explain how to use the Round Payment Schedule tool in LMS, which works to add or subtract an amount from the end of a payment schedule to help match a payment schedule generated by a less sophisticated system.

Updated 5 months ago by Brinley Bushman

Take a look at this article to learn about the Next Due Date Calculation and the two calculation options.

Updated 9 months ago by Cole

Take a look at this article to learn how to make all payments on a loan the same amount using the Smooth Payments tool.

Updated 2 months ago by Jackson Stone

This article gives an overview of how amortized loans typically work.

Updated 9 months ago by Jackson Stone

Often when a loan is made, the first payment period (period starting when the loan is given until the first payment comes due) is a little longer or a little shorter than a standard payment period. LMS allows you specify how you’d like the system to calculate interest accrual for this first payment period.

Updated 6 months ago by Darrin Wray

This article describes all the different options for payment frequency.

Updated 9 months ago by Sloan

This article explains how to use the APR Targeting tool, which lets you choose an APR amount and then adjust either the loan interest rate or the total escrow amount in order to get the loan as close to the chosen APR as possible without going over.

This article covers how discount works. Here, we explain how it affects payments, how to set discount up on a loan, and how to view discount applications at the loan and tenant level.

Updated 5 months ago by Nate Christensen

The Force Payments tool uses schedule roll and schedule round to get you a payment schedule exactly how you specify.

It is sometimes helpful to tell the system the payment amount you want and have it fill in one of the other loan terms in order to calculate the payment. You can do this using the Roll Payment function in LMS. This article will explain how to use the Roll Payment function.

The history and dates are settings that can be turned on or off for a loan. This article will explain how these settings work.

Updated 9 months ago by Kayla Todd

In this article, we go over what happens to a LoanPro loan when the principal balance is zero.

Updated 9 months ago by Andy

This article describes how a typical lease calculation works.

Updated 8 months ago by Cole

This article explains how using uniform or actual length payment periods affects interest accrual over the life of the loan.

Updated 3 months ago by Jackson Stone

This article describes the different interest calculation types that LoanPro offers.

Interest application lets you choose how interest accrues. Most LMS users will choose to base that accrual on transactions, but it can also be based on payment periods. This article will explain the two different interest application options.

Updated 5 months ago by Andy

In LoanPro, when a payment is applied, you have the option to decide how the portion of the payment that exceeds the amount due on the account will be applied. Take a look at this article to learn about the different options.

This article explains the settings listed on the Advanced Configuration of the Setup Terms tab of a loan.

Updated 8 months ago by Nate Christensen

In this article, we will go over what APR is and some basics of how it’s calculated. We will also give references to other resources that provide information about APR.

Updated 1 month ago by Sloan

The payment date application gives you the option to have payments apply either based on the actual payment date, or the scheduled payment date. This article will describe all options in the payment date application.

The last as final setting lets you decide whether the originally-calculated last payment on a loan should remain the last payment regardless of the payment history unless the loan is paid off early. This means that the final payment as originally calculated when a loan is set up will grow larger or smaller throughout the loan instead of extra periods being added to the loan in order to accommodate for extra interest that accrues when payments are made late, or payments that are missed altogether.

In this article, we explain the different discount calculations and how each formula works.

Updated 3 months ago by Nate Christensen

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