Target APR Using Interest

This request allows you to target an APRAPR - Annual Percentage Rate. Calculated rate that helps customers assess the actual cost of a loan. The APR is a number devised by the US government to provide consumers a more accurate way to compare loan rates between lenders. amount by changing a loan's interest.

General

LoanPro features a targeting tool that allows you to adjust interestinterest - Amount of money that is equal to a percentage of the principal amount that accrues daily on a loan account based on a mutually agreed upon yearly rate. The borrower will need to pay all accrued interest before an account is closed out. to reach a specific APRAPR - Annual Percentage Rate. Calculated rate that helps customers assess the actual cost of a loan. The APR is a number devised by the US government to provide consumers a more accurate way to compare loan rates between lenders.. Here's what you need to know about this request:

  • The targeting tool can only be used on accounts that are not activatedactivated - Activating an account will cause the calculations on the loan to take into account actual dates and payment history. An account that hasn’t been activated exists in an abstract piece of time with no sense of past or future..
  • APR is calculated via a number of factors, but this tool will adjust the loan's interest rate to reach the desired APR.

For more information regarding this request, see our API – APR Targeting article on our help site.

For an example of how targeting APR works within the UI, take a look at our APR Targeting article.

Database

For information on loan setup database tables, see the following articles:

{
    "apr": "24.87",
    "solve": "loan.rollAPR.loanRate"
}

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Try It Instructions

Our requests often provide sample payload information so that you can receive a 200 response from simply hitting the Try It button. This request is ready for you—hit Try It to send the request.

However, if you would like to try this request with your own tenant account, make sure to change the headers to match your own authentication information.

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