Vyzer

We understand that for many investors, loans are an essential tool in expanding wealth. At Vyzer, we've designed our platform to accommodate a wide variety of loan types, including "Interest Only" loans.

We often get asked about the process of adding these types of loans to the platform. Our recommendation? Make use of our "<a href="https://help.vyzer.co/en/articles/6514782-how-does-the-magic-box-work">Magic Box</a>". Simply upload your loan documents and let our technology do the work, converting all the necessary information into data for you.

However, if you prefer to set it up manually, please follow these steps, the important parts for setting up an interest only loan are from section 3 below:

1. Click the "Add asset" button on the top right.
2. Choose "Add Manually" and head down to the "Loans" section
3. Add the basic information of the loan you'd like to add - Lender, Loan name, date received and total amount borrowed. 

1. Add the loan interest rate
2. Amortization period - which can also be seen as the total loan period
3. Payoff date - This is the date you expect to payoff the entire loan.

<b>More info - This is where you can flexibly define the terms</b>

1. For an interest only loan, define the "Principal’s first payment date" the same date of the "Payoff date" from the previous section
2. Uncheck the checkbox noting when the interest will be paid and define the first date you expect to pay interest on the loan.

1. Basic info
   1. Click the "Add asset" button on the top right.
   2. Choose "Add Manually" and head down to the "Loans" section
   3. Add the basic information of the loan you'd like to add - Lender, Loan name, date received and total amount borrowed. 
2. Loan terms
   1. Add the loan interest rate
   2. Amortization period - which can also be seen as the total loan period
   3. Payoff date - This is the date you expect to payoff the entire loan.
3. <b>More info - This is where you can flexibly define the terms</b>
   1. For an interest only loan, define the "Principal’s first payment date" the same date of the "Payoff date" from the previous section
   2. Uncheck the checkbox noting when the interest will be paid and define the first date you expect to pay interest on the loan.