Payment Frequency

The frequency at which payments are to occur.

Type the number of payments per year in the box.

Index

The index used to calculate the interest rate.

Spread

The amount above, or below, interest rate index to establish interest rate to be charged.

Payment Type

User-defined type of the payment.

Enter a type in this field.

Ceiling

The maximum interest rate possible for a variable interest rate.

Advance Date

The date for disbursing this loan.

Use one of the following methods to enter the date:

•     Enter the date using one of the following formats:
MM/DD/YYYY or MM/DD/YY

•     Click to select the date from the calendar.

Last Payment Date

The date the previous loan payment was made.

Use one of the following methods to enter the date:

•     Enter the date using one of the following formats:
MM/DD/YYYY or MM/DD/YY

•     Click to select the date from the calendar.

Pre-Payment Penalty

The amount, or percent, of the penalty to assess if the loan is paid off early.

Floor

The lowest rate possible for a variable interest rate.

Payment Date

The date when a loan payment is due.

Use one of the following methods to enter the date:

•     Enter the date using one of the following formats:
MM/DD/YYYY or MM/DD/YY

•     Click to select the date from the calendar.

Fees

The fee associated with this loan.

Adjustment Frequency

The frequency at which the interest rate changes or resets.