The Payment Match tool (formerly known as Roll Payment) allows you to specify a desired payment amount. Instead of calculating the payment based on the loan term, present value, and interest rate, you can input the payment amount you want. The tool will then adjust one of the other loan terms (term length, loan amount, or interest rate) to match your target payment. This provides flexibility in tailoring loan terms to meet specific financial goals or constraints.

Using Payment Match

To use the Payment Match option, navigate to Account Setup > Setup Terms within a loan account. You will need to deactivate the account first before you can access the functions to enable Payment Match.

Scroll down the page and click 'TIL Tools'. Select the 'Payment Match' option. Here you can enter the desired payment, how to solve for the payment, and which escrow buckets the final payment amount will include.

The ‘Solve With’ field has the following options: 

• Underwriting/refinance fee: Calculates an underwriting fee to be added to the principal balance in order to reach your desired payment amount.
• Interest rate: Calculates an interest rate, up to four decimal places, to help you hit your desired payment amount. This may not get you to the exact payment amount you entered. This option uses an iterative calculation (it has to run the calculation several times to get the best result), making it may be slower than the other options.
• Whole term: Adds or subtracts whole numbers from the term to try and hit the target payment amount. Because of that, this method rarely gets you to the exact payment amount.
• Term exact: Adjusts the term length by fractions to precisely hit the target payment amount.
• Whole term with fee: Rounds the term to the nearest whole number and then adds an underwriting fee to hit your target payment amount.

Once you have entered the above information, click the 'Payment Match' button.