Mortgage
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A Mortgage Payment Calculation API
The CarletonCalcs® Mortgage API is similar to our Loan Origination API, but also includes additional inputs and computational features that accurately calculate each variation of a mortgage. The Mortgage API integrates with the major Loan Origination System (LOS) software providers and direct lenders. Have the ability to calculate precise and compliant consumer transactions that are configured to your institution's specific lending products. This API also supports all credit insurance and debt protection products available throughout the credit insurance industry.
API Features
- Mortgage Loan Types: Fixed Rate, Adjustable Rate ("ARM loans"), Buydowns, Equal Principal Reduction, Graduated Payment ARMs, Construction Loans, and Construction with Permanent Financing.
- Loan Types: Installments, Balloon Payments, Construction, Hybrid Interest Only & Installment.
- Fee Types: Fixed, Percent of Principal, Fees Included in Amount Financed, Fees Included in Finance Charge (TIL Fees).
- Interest, Payment & Disclosure Options: Payment Frequency Calendars, Time Counting and Daily Rates, & Rounding.
- PMI & FHA Insurance Premiums: Private Mortgage Insurance (PMI) and Federal Housing Administration (FHA) insurance premium calculations as well as the complexities behind generating this data are available.