The Ownwell Digest can include up to three "opportunities" to help clients understand how to save money and build wealth through their home:
Interest Savings Module – Estimates savings or costs from switching a mortgage.
Purchasing Power Module – Shows how much home the client could afford if they were to sell their existing home and invest the proceeds in a new one.
Access Equity Module – Highlights equity the client could unlock by refinancing.
About the Interest Savings Module
The Interest Savings Module estimates how much a client could save (or lose) in interest through a direct switch of their current mortgage balance.
Why This Error Message Appears
This error occurs when the client’s Loan-to-Value (LTV) ratio exceeds 95%, making them ineligible for a mortgage switch. Common reasons for a high LTV include:
Minimum Down Payment: The client put down the minimum required on an insured mortgage to purchase their existing property.
Declining Property Value: The value of the property has decreased since it was purchased.
Negative Amortization: The mortgage balance has increased over time due to negative amortization.
What Happens Next?
This issue does not prevent you from sending the Homeownership Digest. If the Purchasing Power Module cannot generate an estimate, it will simply be hidden from the digest.