People’s Bank and Trust Company of Pickett County

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How to explore loan scenarios by changing the Property Value?

Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.

1. Enter the Loan Amount manually inside the Loan Amount box.
2. Enter the Purchase Price manually inside the Property Value box.

You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.

When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.

Other advanced sliders’ options are available with Lendersa® Advanced Calculator

How to explore loan scenarios by changing the Loan Amount?

Changes to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.

1. Enter the Loan Amount manually inside the Loan Amount box.
2. Enter the Purchase Price manually inside the Property Value box.
3. There are two ways to change the Loan Amount with the sliders:

Other advanced options are available with Lendersa® Advanced Calculator

How to explore loan scenarios by changing the LTV Slider?

LTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value.

Example: Loan Amount $300,000, Property value $400,000

Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.

1. Enter the Loan Amount manually inside the Loan Amount box.
2. Enter the Purchase Price manually inside the Property Value box.
3. There are three ways to change the LTV:

Other advanced options are available with Lendersa® Advanced Calculator

Lendersa® Advanced Calculator

The Demo calculator and the Hard Money Calculator give you a general estimate on the type of loans you could expect to get. The next step up is Lendersa® Advanced Calculator, the ultimate lending calculator and a quantum lip over any other mortgage calculator in existence.

Lendersa® Advanced Calculator is more diverse and powerful than the Hard Money Calculator, and the Demo Calculator. It includes all the data fields necessary to determine your eligibility for any loan.If you are not sure about what loan you can get, then use Lendersa® Advanced Calculator instead of the Hard Money Calculator. Start by entering the type of property and your zip code and click the “Explore Your Options” button.

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The Advance calculator enables you to use Lendersa® LoanImprove™ engine to optimize your loan request so more lenders would want to compete for the privilege od arranging your loan.

About LoanScore™

LoanScore™ (Loan Chance of Success Score) measures the likelihood to find participating lenders who have matching loan programs to the borrower loan request. A borrower can explore many inquiries and receive several results for each inquiry with unique LoanScore™ for every result. The LoanScore™ indicate to the borrower the number and the quality of the lenders who are interested in looking at his loan request. The LoanScore™ scores range from 0 to 99. A high LoanScore™ (E.g., above 80) indicates many eager lenders who are interested in arranging the loan based on the borrower request. A low LoanScore™ indicates no or very few lenders with a small number of matching programs. Lendersa loan optimization is a proprietary process the borrower can undertake to improve the results of his loan request and raise LoanScore™.

What is the different between LoanScore™ and Fico score? LoanScore™ and Fico Score are completely different scores. FICO, or Fair Isaac, credit scores are a method of quantifying and evaluating an individual's creditworthiness. Fico scores range from 300 to 850. Fico Score measure your credit rating; it is based on your credit history. LoanScore™ (Loan Chance of Success Score) measures the likelihood you will receive loan offers from lenders based on your loan request and your financial qualifications. The LoanScore™ range is from 0 to 99. Good Fico score normally helps raise the LoanScore™, but it is only part of the LoanScore™. It is possible to have perfect Fico score of 850 and LoanScore™ of 0; it means that despite the excellent credit, there are no loan programs which are matching your borrower’s needs. And vice-versa, you can have a terrible credit score of 350 Fico and LoanScore™ of 99, which could be possible when you request a loan based on equity only and the lenders disregard the credit rating. Each loan program has its unique LoanScore™. Each time you change your loan request, the programs change, and the LoanScore™ of each program change instantly and automatically the Fico score remains the same unless you manually change it.