Present Borrowers with Multiple Rates in a Single QuickQual

Let's walk through the process of showing your borrowers different interest rates in a single QuickQual by using the Multi-Scenario function. This will allow you to demonstrate how various rates can impact loan scenarios, making it easier for borrowers to make informed decisions.

Step 1: Navigate to Step 3 of a QuickQual

You'll want to navigate to Step 3 (Loan Information) of a QuickQual. This can be done during the initial QuickQual creation or after the QuickQual has been fully created and sent out to a borrower.

Step 2: Add Loan Scenarios

1. First Scenario

   • Add the first scenario with the lowest qualification rate you'd like to present to your borrower. In the case of this example, we will be using 6.75%.
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   • Now we can rename this scenario to "30 Year Conventional 6.75%" by clicking on the title of the scenario tab:
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2. Second Scenario

   • Click the plus button next to the first tab to add a new scenario.
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   • This will be the middle of the three qualification rates that we'd like to display. For this example, we'll be using 7%.
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   • Rename this scenario to "30 Year Conventional 7%".

3. Third Scenario

   • Click the plus button again to add the last scenario. This will be the highest rate that you'd like to display.
     • In this example, we'll set the qualification rate to 7.25%.
   • Rename this scenario to "30 Year Conventional 7.25%".
     
     
   • This is how your setup should look now that we've added the extra scenarios:
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   • From here, you'll want to click the Save button down at the bottom to solidify your changes!
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Step 3: Preview the QuickQual

• Move to Step 4 of the QuickQual process and select the Preview this QuickQual button to view your changes.
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• You'll see that users can jump between each scenario by selecting the arrows beside the calculator header:
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• • Each scenario is labeled, making it easy to differentiate between the different rated.
  • Users can now crunch numbers and generate letters for each scenario, making the decision-making process easier and more transparent.

By following these steps, you can efficiently present multiple interest rate scenarios to your borrowers. This ensures that borrowers have all the information they need to make informed choices. If you have any questions, please reach out to us at support@lenderlogix.com, we're happy to help!