Fact Find Debt Calculator

Overview

This article explains how the Fact Find Calculator works and how it processes data from the Fact Find form to generate accurate financial calculations.

The calculator automatically uses information entered throughout the Fact Find to generate repayment projections, financial insights, and client-facing reports, helping reduce manual calculations while ensuring consistency and accuracy.

How the Calculator Works

The typical process is:

1. Complete the Fact Find.
2. Employment, income, expenses, assets, liabilities, and loan information are captured.
3. The calculator automatically processes the information.
4. Results are displayed within the calculator.
5. A PDF report can be generated for client review.
6. The report can be sent to applicants for signing.

The calculator pulls information directly from configured Fact Find fields, including income, expenses, liabilities, assets, property information, and additional borrowing requirements.

Note: Some values may be manually adjusted for scenario modelling purposes using the Save Custom Values feature described later in this article.

Employment Section

Within the Employment section, the system automatically:

• Calculates each applicant’s after-tax salary.
• Calculates the combined after-tax income of all applicants.
• Displays the combined income as a read-only field that cannot be manually edited.

Summary Page

The Summary page provides a consolidated view of key financial information, including:

• Combined income
• Other income (if applicable)
• Living expenses
• Net cash flow
• Additional key financial metrics

All values are pulled directly from configured Fact Find fields, ensuring consistency and accuracy across calculations.

Understanding the Calculator Results

The calculator is designed to compare a client's current financial position against potential repayment scenarios.

Depending on the configuration, the calculator may display:

• Repayment timelines
• Projected loan payoff dates
• Savings estimates
• Net cash flow outcomes
• Alternative repayment scenarios

Additional borrowing requirements, such as renovations, debt consolidation, holidays, or other personal projects, may also be included in the calculations where configured.

Calculator Enhancements

Total Monthly Expenses

The field previously labelled “Total Debt Amount” has now been updated to “Total Monthly Expenses” for improved clarity.

 

Calculator Graph

The repayment graph has been updated so that it now begins at Month 0 instead of Month 1, providing a more accurate visual representation of the repayment timeline.

The graph allows users to:

• Compare repayment scenarios
• Understand projected loan reduction over time
• Visualise potential savings opportunities
• Review the impact of additional borrowing requirements

 

PDF Export & UI Improvements

The following improvements have been made to the PDF export and graph display:

• Loan type now displays as “Remote” in the PDF
• Fixed an issue where the graph was breaking onto a new page
• Improved overall PDF layout stability and formatting across pages

 

 

Applicant Signature

Applicant signature fields have been added to the PDF export, allowing applicants to sign documents directly within the generated file.

 

Report Generation

Once the calculator results have been reviewed, a PDF report can be generated containing the calculated outputs and supporting information.

The generated report provides a structured summary of:

• Applicant information
• Income and expense calculations
• Repayment projections
• Savings estimates
• Graphical repayment information
• Applicant signature sections

This report can then be shared with applicants for review and signing.

Save & Reset Calculator Values

Save Custom Values

Users can modify calculator inputs to simulate different repayment scenarios.

• Users can manually adjust calculator values for testing purposes
• Modified values can be saved within the calculator
• This enables comparison of different repayment scenarios against Fact Find data

Note: It is recommended to use Fact Find values as the default. Manual overrides should only be used for scenario testing or comparison.

 

 

 

 

Reset Values

To restore original Fact Find values:

1. Click the Reset option in the calculator
2. The system will automatically reload the original Fact Find data
3. All manually entered or saved override values will be cleared
4. Repayment calculations will revert to the original configuration

 

 

 

Expenditure Requirement Section

Previous Behaviour

• Expenditures were automatically included in the buffer calculation by default

Current Behaviour

• Expenditures are now included in the buffer calculation only when the user selects “Yes”, indicating that the funds are intended to be borrowed

Example

If an applicant includes an expense item such as a renovation, holiday, or other planned expenditure:

• Selecting Yes will include the amount in borrowing and repayment calculations.
• Selecting No will exclude the amount from borrowing calculations.

This provides greater flexibility when modelling different lending scenarios.

 

Need Help or Have Questions?

If you need any assistance with the Fact Find Calculator or would like further clarification, please contact our support team at support@effi.com.au.