User guide

This user guide contains different guidelines to help you becoming familiar with « iLoan » application and knowing to use it.

  1. Calculate my borrowing capacity
  2. Simulate my real estate project (or consumer goods)

1. Calculate my borrowing capacity
In this guide, you will know how to calculate your borrowing capacity.
1

Monthly payment capacity

Enter your annual income, your current monthly payment and the maximum allowed debt ratio.

As a result, you will get your credit capacity, your current DTI and your monthly capacity available for a new loan.

Remark: if your current monthly payment exceed your monthly capacity, then the application displays a DTI and remaining capacity in red.

Monthly payment capacity
2

Borrowing capacity

To determine your borrowing capacity, the application takes your remaining capacity due calculated above.

Only amount of payment and loan duration fields are required. You are free to specify whether or not a value for the annual interest and insurance rates. These elements can also be added or edited in the simulation.

Borrowing capacity
3

Results

« iLoan » presents not only the result of the loan calculated but also those of the previous and following five loans with the same criterias but with different periods (from 1 to 5 year).

With histograms, you can compare the evolution of the amounts borrowed and the cost of credit (interest and insurance).

Results
4

Loan: characteristics

You can give a name for your simulation and leave a reference about the organization which supports the proposal. In addition, a category system facilitates the classification of all your simulations.

The loan is automatically populated with data from your simulation: purchase amount, repayment period, interest and insurance rates. These values ​​can be changed.

Loan:characteristics
5

Loan: results

Your loan is illustrated with a pie chart to better understand the distribution of principal, interest, insurance and other costs.

You can specify a starting date, add notes, view the amortization table and then export it to CSV or PDF format.

Loan: results
6

Amortization table

This screen shows the progress of capital compared to interest and insurance.

You have both a summary per year and a full list of all monthly payments. The table shows the distribution of each payment and the remaining balance due date.

Amortization table

2. Simulate my real estate project (or consumer goods)
In this guide, we will use the most advanced features of the application to simulate real estate purchase.
1

Creating a project with multiple loans

Among all the simulators, we recommend to use “Project with loan arrangement.” Indeed, this simulator is the one that will offer you more possibilities: charges, multiple loans, loan underway, smoothing loan, etc …

Simulations
2

Characteristics

To begin your project, enter the amount of your purchase and the contribution that you have.

You can give a name for your simulation and leave a reference about the organization which supports the proposal. In addition, a category system facilitates the classification of all your simulations.

Characteristics
3

Charges

Transaction, notary and renovation costs are automatically included in your financing plan.

Charges
4

Adding a interest-free loan

Add in your financial plan a interest-free loan from « Loans of project / Add a loan ».

Interest-free loan
5

Add a smoothing loan

Add a loan smoothing (duration) to complete your financing plan from « Loans of project / Add a loan ».

The loan amount is automatically filled based on the principal still needed. Enter your monthly payment, interest & insurance rates and the date of release of funds.

Smoothing loan (duration)
6

Customization of smoothing loan

Specify any charges.

Smoothing loan characteristics
7

Payment levels

Check the levels of reimbursement for your project « Advanced / Payment levels ».

Payment levels
8

PDF export

Export your project as a PDF file from “Advanced / Export / PDF”.

Break-down of repayment illustrates the level of loans.

Summary of your project
Break-down of repayment
Amortization table