Issue Description

When comparing Principal & Interest (P&I) calculations between different loan origination systems, you may notice discrepancies in the payment amounts displayed.

Verification Process

To verify the correct P&I calculation, confirm that the calculation is based on:

1. Principal loan balance - The total loan amount
2. Monthly interest rate - The annual rate divided by 12
3. Loan program - The specific loan type and term (e.g., 30-year fixed)

Resolution

The internal system calculation is correct when it uses the accurate loan parameters including:

• Loan program type
• Total loan amount
• Interest rate selected by the borrower

Note: Other systems may use different calculation methods or parameters, which can result in varying P&I amounts. Always rely on the calculation generated by your primary loan origination system when it's based on the correct loan details.