Overview
Every property comes with tax and insurance costs that directly impact your client's monthly payment. Deal Details gives you three flexible ways to enter this data: pull from recent tax records, enter a flat dollar amount, or calculate based on a percentage of property value. The system automatically converts between monthly, annual, and factor-based views so you can work in whatever format makes sense for your situation.
Before You Start
Requirement | Details |
Active loan scenario | You need an existing property card with basic property information already entered |
Property value | The purchase price or appraised value must be set for factor-based calculations to work |
Tax/insurance data | Have your client's recent tax bill, insurance quote, or local tax rate ready |
Step-by-Step: Setting Property Tax Method
Property tax settings are found at the bottom of your property card in the Property Scenario Data section.
1. Choose Your Tax Calculation Method
Method | When to Use |
Recent Tax Bill | Best for refinances or when you have the actual tax bill from the county |
Flat Dollar Amount | Use when you know the exact annual or monthly tax amount |
Factor of Value | Ideal for purchases where you need to estimate based on local tax rates |
2. Enter Tax Data Using Recent Tax Bill
Select the Recent Tax Bill option from the County Tax Method dropdown
The system pulls in the monthly amount, annual amount, and calculates the tax factor automatically
This gives you the most accurate representation based on actual recorded taxes
3. Enter Tax Data Using Flat Dollar Amount
Enter the annual amount in the Annual field (example: $7,200)
The Monthly field automatically calculates (example: $600)
Or enter the monthly amount first and the annual calculates in reverse
⚠️ Important: When you enter a value in one field, the corresponding field updates automatically. You only need to fill in one box, not both.
4. Enter Tax Data Using Factor of Value
Enter the tax rate as a decimal in the Factor field (example: 0.65 for 0.65%)
The system calculates the annual and monthly amounts based on your property value
This is useful when working with county assessor rate sheets or comparing properties across different areas
Setting Homeowner's Insurance
The insurance section works identically to property taxes, giving you the same flexibility in how you enter the data.
1. Choose Your Entry Method
Field | What It Does |
Annual Amount | Enter the yearly premium and monthly calculates automatically |
Monthly Amount | Enter the monthly cost and annual calculates automatically |
Factor of Value | Enter a percentage and both amounts calculate from property value |
2. Enter Your Insurance Data
Type the known value into the appropriate field
All related fields update instantly
For most purchase scenarios, entering the annual premium from an insurance quote is the fastest approach
Finishing Up / Next Steps
1. Verify Your Numbers
Check that the monthly amounts shown match what you expect for the market
Confirm the factor percentages align with local norms for the property type
2. Review the Full Payment Picture
Navigate back to your loan scenario summary
Verify that PITI (Principal, Interest, Taxes, Insurance) displays correctly
The property scenario data flows into all your client-facing presentations
Quick Reference
Property Card → Property Scenario Data → Choose Method (Tax Bill/Flat Amount/Factor) → Enter One Value → Other Fields Auto-Calculate → Verify PITI
Tips for Success
Start with what you know — if you have the tax bill, use it; if you only have a rate, use the factor method
Let the math work for you — never manually calculate monthly from annual; enter one and let the system do the conversion
Use factors for quick estimates — when comparing multiple properties, using a consistent tax factor makes side-by-side comparisons easier
Update before presenting — if you started with estimates, replace them with actual insurance quotes before your client meeting
Document your source — make a note in the scenario if you used county averages versus actual bills so you remember during underwriting
Related Topics
Setting Up Property Information on Loan Scenarios
Understanding PITI Calculations
Creating Client-Ready Loan Comparisons
Working with Escrow Estimates