Ownwell automatically calculates opportunities using available market rates and your default rate settings. In some situations, you may have access to a different rate that better reflects what you can offer a homeowner.
Custom Rates allow you to use your own rate for an individual opportunity without affecting any other opportunities on the record.
Using a Custom Rate
From the Client Details page, locate the opportunity you would like to review and click Review Calculations.
If you would like to use a different rate than the one shown, click Use Custom Rate.
Enter the rate you would like Ownwell to use for the calculation and click Update
Rate.
Ownwell will immediately recalculate the opportunity using your custom rate.
What Changes When a Custom Rate Is Applied?
When a custom rate is applied, Ownwell recalculates the selected opportunity using that rate.
For Interest Savings opportunities, the updated calculations are reflected in the Mortgage Rate Analysis section.
The following values may change:
Interest on current mortgage
Interest on new mortgage
Cost of breaking
Paid at closing
Interest on costs added to mortgage
Remaining balance added to mortgage at renewal
Net savings over term
Change in monthly payment
Changes only apply to the opportunity where the custom rate was entered.
💡 Important: Rate overrides are applied at the opportunity level. Changes made to an Interest Savings opportunity will not change Purchasing Power or Available Equity calculations.
How Rate Overrides Interact with Rate Updates
Custom rate overrides take priority over:
Lender Spotlight rates
Default rates configured in your account settings
Future opportunity recalculations
Once a custom rate has been applied, Ownwell will continue using that rate for the opportunity until it is manually removed.
This means future rate updates will not overwrite the custom rate.
Resetting an Opportunity to the Default Rate
If you'd like to remove a custom rate and return to the default calculation, open the opportunity and click Reset to Default.
Ownwell will recalculate the opportunity using the default rate that would normally apply.
After resetting, the opportunity will once again use:
Lender Spotlight rates, or
Your account-level rate settings
depending on your configuration.
Updating an Existing Custom Rate
Once a custom rate has been applied, the button changes from Use Custom Rate to Update Custom Rate.
You can update the rate at any time to model different scenarios.
Resetting to the Default Rate
Custom rates remain in place until they are removed.
If you'd like to return to the default market rate, open the custom rate window and click Reset to Default.
The opportunity will be recalculated using the current Lender Spotlight rate.
Custom Rates and Opportunity Updates
Custom rate overrides take priority over:
Lender Spotlight rates
Default rates configured in your Rate & Lender Settings
Future opportunity refreshes
This means the custom rate will continue to be used until you reset it to the default rate.
Using Custom Rates to Resolve Opportunity Errors
Some opportunity errors can be resolved by applying a custom rate.
For example, a homeowner may not qualify at the automatically selected market rate but may qualify at a different rate available through your lending network.
When a custom rate can potentially resolve the issue, Ownwell displays a Use Custom Rate button.
Error Classification
Errors that can be resolved with a custom rate
The override button will be visible for the following errors:
No rate found — The system couldn't find a suitable market rate for this record. The user can manually set one.
Does not qualify at current rate (Interest Savings only) — The homeowner doesn't qualify for the mortgage at the current rate, but may qualify at a lower rate.
No equity after max mortgage (Access Equity only) — The homeowner has no accessible equity at the current rate, but a lower rate increases the maximum qualifying mortgage and may unlock equity.
Errors that cannot be resolved with a custom rate
The override button will be hidden for the following errors:
LTV too high — The loan-to-value ratio exceeds lending limits, regardless of the rate.
Invalid credit score — The credit score on file is outside the acceptable range.
Amortization too high — The remaining amortization period is too long to qualify.
Matured mortgage — The mortgage term has already ended.
Missing home value — No current home price is available, so no calculations can be run.
No equity after penalties — After accounting for prepayment penalties, there is no remaining equity to access.
Negative equity — The outstanding balance exceeds the home value.
Example: Resolving a "No Rate Found" Error
In some cases, Ownwell may be unable to find a suitable market rate for a homeowner.
If you have a rate available that fits the homeowner's situation, click Use Custom Rate, enter the rate, and update the calculation.
If the homeowner qualifies at the custom rate, the opportunity will be generated and the error state will be removed.
Example: Creating a Qualification Error
If a custom rate is set too high, the homeowner may no longer qualify for the opportunity.
For example, entering a significantly higher rate could trigger a Does not qualify error.
In this situation, simply update the custom rate to recalculate the opportunity.
Frequently Asked Questions
Does a custom rate affect other opportunities?
No. Custom rates only apply to the specific opportunity where they are set.
Will my custom rate be overwritten when opportunities refresh?
No. Custom rate overrides persist through future opportunity updates and take priority over default rates and market rate updates.
Can I remove a custom rate after applying it?
Yes. Open the custom rate window and click Reset to Default to return to the current Lender Spotlight rate.
Why don't I see a Use Custom Rate button?
The button is only displayed for opportunities that support rate overrides. Some error states cannot be resolved through a rate change and therefore do not allow custom rate overrides.
Can a custom rate resolve a No Rate Found error?
Yes. If you have a suitable rate available, applying a custom rate may allow the opportunity to be generated.
Can a custom rate resolve every error?
No. Some errors are unrelated to interest rates and cannot be resolved with a custom rate. Examples include high LTVs, invalid credit scores, missing home values, matured mortgages, and negative equity.