Begin by accessing the loan program interface.

Identify the need to create multiple scenarios for different loan programs.

Select 'Edit Key Metrics'.

Change the loan template from 'Conventional Fixed' to 'Home Ready, Home Possible'.

Note that the loan-to-value will default to 97%.

Enter the same interest rate as before.

Adjust the origination fee to 50 basis points.

Input the PMI factor at 25% for the 97% loan.

Click 'Save As New Scenario'.

Name the scenario (e.g., '$97.95% Home Ready').

Confirm that all data has updated correctly.

Again, select 'Edit Key Metrics'.

Change the loan template to 'FHA'.

Verify that the base loan amount is set to 96.5%.

Enter the FHA interest rate (e.g., 5.875%) and points (1%).

Ensure the MIP is set at 55 basis points.

Click 'Save as New Scenario'.

Name the scenario (e.g., 'Stuart FHA').

Confirm that all FHA items have updated correctly.

Go to the deal home and review all scenarios.

Arrange the scenarios in the desired order (e.g., two conventional loans first, then FHA).

Create a side-by-side comparison of the scenarios.

Confirm the order and save the comparison.

Review the comparison for key metrics like cash to close and monthly payments.

Prepare to discuss the best option with the client.

Always double-check the interest rates and fees after changing loan templates to avoid errors.

Ensure that you save each scenario as a new entry to prevent data loss from previous scenarios.

Familiarize yourself with the interface to speed up the process.

Use consistent naming conventions for scenarios to easily identify them later.

Regularly review and update your knowledge of current loan programs and rates.