Configurable payment schedules allows lenders to change payment schedules in separate payment periods. For example, a lender may want to offer 5% interest on the first three periods of a loan, but then 15% for the remainder of the loan. Note the following when making this request:

The loan will likely not be at the exact principal balance entered, but it will be close. This is due, in part, to the necessity of dealing with dollars and cents (2 decimal places) for final calculated numbers.

For an example of how configurable payment schedules work within the UI, take a look at our Create a Configurable Payment Schedule article.

Database

For information on configurable payment schedule database tables, see the following articles:

Database – Loan Schedule Roll Entity (loan_schedule_roll_entity)

Database – Schedule Roll Template (schedule_roll_template_entity)

{
    "ScheduleRolls": {
        "results": [
            {
                "term": 3,
                "rate": "5",
                "solveUsing": "loan.rollScheduleSolve.dollar",
                "amount": "150.00",
                "percent": 0,
                "advancedTerms": 0,
                "solveFor": "loan.rollScheduleSolveFor.payment",
                "balance": 0,
                "forceBalloon": 0
            }
        ]
    }
}