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How to Create Draft Submissions & Scenarios
How to Create Draft Submissions & Scenarios

mortgage scenarios, compare

Joe Tomkins avatar
Written by Joe Tomkins
Updated over a week ago

You can easily create mortgage scenarios for your clients by building draft submissions for different lenders in Finmo. This allows you to prepare multiple options with different loan parameters, such as interest rates, payment frequencies, and rental offsets that you can use to present to your clients.

Follow the steps below to start building scenarios.

Step 1: Accessing a Deal

  1. Log in to your Finmo account.

  2. Once logged in, navigate to the Deals section.

  3. Locate and select the desired deal you want to work with.

Step 2: Create a draft submission & scenario

  1. Click on the "Calculator" from the top menu

  2. Using the calculator specify the loan parameters for the scenario, such as interest rate, payment frequency, and mortgage type.

  3. Click on the submission section of the application and choose the desired lender for which you want to create a draft submission/scenario.

  4. After setting up the parameters, save the changes.

    NOTE: If the submission section is unavailable, you may need to enter a "Subject Property." In the application navigate to the subject property section. Enter a mock address and save this can be any address).

  5. Once you have set up the first scenario, do not hit the "Submit to Lender button"

Navigate out of the submission back into the application. Your submission will now appear as a "draft" when you access it again in the "Submit" section.

This draft will serve as a starting point for the scenario(s) you are building.

Step 4: Creating Additional draft submissions & scenarios

Within Finmo, you create as many draft submissions created as you wish. Once you have saved one draft, you can then create additional ones.

  1. Via the "Calculator" at the top of your deal, enter the loan parameters you want for the second draft and follow the procedure from step 2.

  2. Save the changes once you have completed the scenario.

Step 5: Managing draft submissions & scenarios

You can access and manage your created scenarios anytime by returning to the "Submit" section. Under "Submissions" you will find the drafts for each submission/scenario you have created.

Open each draft to review the different payment details, discuss them with your client, or make any necessary adjustments. You can customize and present the various payment scenarios to your clients, allowing them to understand the differences between lenders and make informed decisions along with your guidance. Once you have chosen the desired scenario, you can proceed with submitting the deal to your preferred lender.

If you have any further questions or need assistance, please click on the chat button.

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