This request creates a Quick Quote.
Click here to learn more about this request
LoanPro's Quick Quote feature allows users to calculate the entire life of a loan without committing to saving and activating the account. This tool is useful for providing comprehensive quotes to borrowers without incurring the potential costs of deleting and archiving accounts. Note the following when creating Quick Quote accounts:
Quick Quote accounts can be converted to live accounts. To convert a Quick Quote to a live account, use the PUT Convert a Quick Quote to a Live Account request.
Quick Quote accounts are like standard loan accounts but with a self-destruct timer. If a Quick Quote is not converted to a live account within 24 hours of its creation, the account will be automatically deleted.
This request requires only the LoanSetup object. But other objects can be added if desired. The information stored in objects such as LoanSettings and Collateral do not affect the calculation values of a loan. Thus, they're not required for creating a Quick Quote.
For an example of how creating a Quick Quote works within the UI, take a look at our Quick Quote article.
Database
For information regarding loan database tables, see the following articles:
Database – Loan Table (loan_entity)
Database – Loan Setup (loan_setup_entity)
Database – Loan Settings Entity (loan_settings_entity)
{
"temporaryAccount": 1,
"LoanSetup": {
"loanAmount": "10000.00",
"discount": "500.00",
"underwriting": "0.00",
"loanRate": "12.0212",
"loanRateType": "loan.rateType.annually",
"loanTerm": "36",
"contractDate": "2022-02-17",
"firstPaymentDate": "2022-03-17",
"amountDown": "0.00",
"reserve": "5.00",
"salesPrice": "12000",
"gap": "1120",
"warranty": "2500",
"dealerProfit": "1000",
"taxes": "125.25",
"creditLimit": "15500",
"loanClass": "loan.class.carLoan",
"loanType": "loan.type.installment",
"scheduleTemplate": "0",
"discountSplit": "1",
"paymentFrequency": "loan.frequency.monthly",
"calcType": "loan.calcType.simpleInterest",
"daysInYear": "loan.daysInYear.frequency",
"interestApplication": "loan.interestApplication.betweenTransactions",
"begEnd": "loan.begend.end",
"firstPeriodDays": "loan.firstPeriodDays.frequency",
"firstDayInterest": 0,
"discountCalc": "loan.discountCalc.rebalancing",
"diyAlt": "loan.diyAlt.no",
"daysInPeriod": "loan.daysinperiod.24",
"roundDecimals": "5",
"lastAsFinal": "loan.lastasfinal.no",
"curtailPercentBase": "loan.curtailpercentbase.loanAmount",
"nddCalc": "loan.nddCalc.standard",
"endInterest": "loan.endInterest.no",
"feesPaidBy": "loan.feesPaidBy.date",
"graceDays": "5",
"lateFeeType": "loan.lateFee.3",
"lateFeeAmount": "30.00",
"lateFeePercent": "10.00",
"lateFeeCalc": "loan.lateFeeCalc.standard",
"lateFeePercentBase": "loan.latefeepercentbase.regular",
"paymentDateApp": "loan.pmtdateapp.actual",
"maxInterestAmount": "0",
"financeChargeAsMIA": 1,
"EscrowCalculators": {
"results": [
{
"entityType": "Entity.Loan",
"subset": 1,
"term": 36,
"total": 100,
"percentBase": "loan.escrowPercentBase.loanAmount",
"proRate1st": "loan.escrowProrateFirst.none",
"extendFinal": "loan.escrowextendfinal.no",
"disclosureLnAmtAdd": 0,
"paymentApplication": "loan.escrowpmtapp.percentfixed"
}
]
},
"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
}
]
}
}
}
{
"temporaryAccount": 1,
"LoanSetup": {
"temporaryAccount": 1,
"loanAmount": "10000.00",
"loanRate": "4.5",
"loanClass": "loan.class.carLoan",
"loanType": "loan.type.installment",
"contractDate": "2022-05-07",
"firstPaymentDate": "2022-05-14"
}
}