To show a free and clear property, make sure to enter the current property value in the assumptions, but leave the mtg info blank with the exception of the remaining balance, enter in $1.00. Then enter your new refi products as you normally would, but make sure to leave the boxes to add fees to the loan amount unchecked. This will force Mortgage Coach to take the costs from the proceeds of the refinance. When you get to the presentation screen, make sure to uncheck the current mtg so the report doesn't look so negative (all new options would show a negative savings against a free and clear).
Articles in this section
- Which fees should be included in the APR?
- How can I delete a product?
- How do I copy or duplicate an existing report?
- Is there a debt consolidation tool in MC?
- How do I show down payment assistance in MC?
- How do I calculate the UFMIP refund on a FHA Streamline Refi when I don't know the original UFMIP?
- How do I prepare an amortization for loans in MC?
- How can I show a Purchase vs Cash scenario? (paying in cash opposed to a mortgage)
- How to enter reserves in MC
- How to enter in a seller or lender credit