Generating amortization scenarios in Finmo allows you to run quick, detailed payment scenarios for your clients, showing them the financial impact of different payment frequencies.
With just a few clicks, you can:
Compare monthly vs. biweekly accelerated payments
Highlight the savings potential of different payment strategies
Provide clear, detailed amortization schedules to your clients
Start using this feature today to help your clients make more informed decisions/
Watch the video below to learn how:
How to generate a quick amortization scenario
1. Log into your Finmo account and open the deal you want to work on.
2. Navigate to the top section of the deal screen where you’ll find the calculator
3. Enter the necessary details for your calculation, such as the interest rate, payment frequency, and amortization period.
Important: Do not click on "Save" as this will save to your current application
4. Click on "Generate amortization scenario" and a new tab will open displaying the amortization schedule for your entered scenario.
Tip: You can choose to download the amortization scenario or simply leave the tab open in preview if you wish to compare it with another scenario
How to create a comparative scenario
1. Go back to the calculator in the original tab.
2. Change the payment frequency rate, amortization etc and click on "Generate amortization scenario" again.
Important: Do not click on "Save" as this will save to your current application
3. A new tab will open with the new information entered into the "amortization scenario"
Tip: You can choose to download the amortization scenario or simply leave the tab open in preview if you wish to compare it with another scenario
4. Review the two scenarios to compare them. Focus on key figures such as the total balance owed, total principal paid, and total interest paid over the period.
If you have any questions or need further assistance please click on the chat bubble.