I've never seen LodeStar's Closing Cost Estimate Calculator input screen! What do I do? What does all this mean?! Don't worry, let's take a quick minute to go through everything.
After accessing LodeStar within your LOS, the first thing you will see is LodeStar's Closing Cost Estimate Calculator. All of the information is automatically pulled into LodeStar from the loan file, so there is no need to manually enter anything in. The only item that the user needs to touch is selecting a title company within the Service Title Agent dropdown.
- The State, County and Township dropdowns will automatically populate for you based on the address and property information within the loan file.
- The Transaction dropdown will also automatically populate based on what is identified within the loan file.
- The Loan File Name, Loan Amount and Purchase Price will automatically populate with the correct information from the loan file.
- Lastly and most importantly, you will need to select the title company that you'd like to quote from the Service Title Agent dropdown.
Things to keep in mind:
- For the dropdowns that are already preselected (State, County, Township, Transaction, Loan Amount and Purchase Price), you don't need to touch or reselect items within the dropdown. These are automatically pulled from within the loan file for you. If you need to update anything, please do so within the loan file and rerun LodeStar.
- You will also see different questions with checkboxes. These are auto selected for you based on information from the loan file and what is most common for that state. Please refer to this article for more information.
- On the righthand side of the screen, you will see different tabs depending on what your company has access too. By default, every LodeStar Closing Cost Calculator will have an endorsement tab. Endorsements are auto selected for the user. Please refer to this article for more information.