Use the Simulate Loan endpoint to present loan terms to individual and business customers. Simulate Loan allows customers to run multiple loan simulations, to compare the different APRs and loan terms, and make an informed decision about the loan offerings. The 36% MAPR is only applicable to individual customer loans, and there is currently no limit for business customer loans. This endpoint generates the data needed to create loan documents such as the Truth in Lending Act (TILA) document and loan disclosures. You will have the option to create a loan with or without a simulation. If the loan is not created the same day as the loan simulation, there is a possibility that the APR might exceed the allowable limit, causing an error in loan creation.
For optional parameters, do not pass an empty string or null value.
The table below lists status codes that apply to this specific endpoint.
See Global Response Statuses for status codes that are common across endpoints.
|Status Code||Code Description|
|1207-01||The total loan term is more than the maximum allowable limit, please validate the capital term or loan term values.|
|1207-02||The total loan term is less than the minimum allowable limit, please validate the capital term or loan term values.|
|1207-03||The loan APR cannot exceed 36%.The 36% MAPR is only applicable to individual customer loans, and there is currently no limit for business customer loans.|
|1207-04||The loan amount exceeds the maximum allowed loan amount configured for this subproduct.|
|1207-05||The loan term is less than the minimum configured.|