Roll-up Mortgage Fees
Overview
It's common to include the fees associated with taking out a mortgage into the loan itself. This is often permitted as an "extension" to the normal loan amount, beyond LTV limitations and can be a convenient way to squeeze a little extra investment potential from your capital.
Property Prospector allows you to calculate your potential property investments either assuming you'll pay the mortgage fees up-front, or that you'll add them to the mortgage loan. Paying them up-front is the default calculation.
Step by Step
The setting is per-plan, per-property.
Start by opening the prospect from your Shortlist, and select the Plan tab.
The Plans Overview shows each financial plan you stored for a prospect.
Click Details to open the plan you want to adjust, or Add Plan to create a new plan.
The toggle to roll up the mortgage fees is in the same place whether editing an existing plan or creating a new one, at the end of the other mortgage information.
Click it to toggle on or off (default is off), and the other figures in the plan will update immediately. You still need to click Save Plan to make the changes permanent.
