Comparison Worksheet

Introduction

This tutorial will guide you through the usage of the cost comparison worksheet designed by Broker Plus. This tool is tailored specifically for mortgage brokers and non-delegated lenders, streamlining various aspects of mortgage processing. By the end of this guide, you'll be able to effectively utilize the comparison worksheet to enhance your decision-making process in mortgage lending.

Step 1: Access the Cost Comparison Worksheet

• Locate the Worksheet: Visit the Broker Plus platform.
• Sign In: Enter your credentials to access your account.
• Find the Worksheet: Navigate to the 'Resources' or 'Tools' section of the dashboard and select the cost comparison worksheet.

Step 2: Input Loan Scenarios

• Gather Information: Collect the relevant data for the loan scenarios you want to compare, including:
  • Loan amounts
  • Interest rates
  • Loan terms
• Enter Data: Fill in the details in the provided fields of the worksheet. Ensure accuracy to get reliable comparisons.

Step 3: Analyze Costs

• Review Line Items: After entering your loan scenarios, look at the different cost components displayed in the worksheet. These may include:
  • Origination fees
  • Closing costs
  • Monthly payments
• Compare Scenarios: Use the built-in comparison features to evaluate the differences between the loan options you've entered.

Step 4: Customize Your Comparisons

• Adjust Variables: Modify the parameters (like interest rates or loan amounts) to see how changes impact costs.
• Use Filters: Take advantage of any filtering options to focus on specific types of loans or scenarios.

Step 5: Document Your Findings

• Export Data: Once you've completed your analysis, you can export the comparison results. Look for an 'Export' or 'Download' button.
• Share Results: Consider sharing the findings with clients or colleagues via email or presentations for better collaboration.

Step 6: Save Your Work

• Save Progress: Make sure to save your entered data and any customizations you've made to the worksheet.
• Create Backups: Regularly back up your work to avoid losing important information.

Conclusion

By following these steps, you can effectively use the cost comparison worksheet from Broker Plus to streamline your mortgage analysis process. This tool not only helps you compare different loan options but also enhances your overall efficiency in managing mortgage transactions. Consider exploring additional features within the Broker Plus platform to further optimize your lending practices.