NetLoan — Set Up a Loan with a Variable Rate Index

Overview

This article shows how to apply an existing Variable Rate Index to a loan record so its rates sync directly into the loan's Rates sublist and amortization schedule. Use it when setting up a new variable rate loan, or when adding or changing the Rate Index on an existing pending loan.

Note: As of July 2026, rates from the Variable Rate Index sync immediately when the index is selected — there's no separate "Initiate Sync" step required. However, the loan's Origination Date and Maturity Date fields must already be populated before selecting the Rate Index, or the sync will return no rates.

Prerequisites

• A Variable Rate Index record must already exist with its rate history loaded. See NetLoan - Manage Variable Rate Index.
• The loan's Schedule Calculation Type must not be set to Calculate Rate — Variable Rate Index is only supported with other Schedule Calculation Types, such as Default.
• The loan must have a Maturity Date populated — the rate sync won't pull in any rates without one.
• Standard NetLoan access to create/edit loan records.

Step-by-Step

Navigation

• Loan record: Open the loan record (new or existing, in Pending status) and go to the Accounting subtab, where the Variable Rate Index field lives.

Process

1. Populate the loan's Origination Date and Maturity Date. These must be filled in before you select a Rate Index, or the sync will run and return no rates.
2. Confirm Schedule Calculation Type is not set to Calculate Rate. Variable Rate Index only works with other Schedule Calculation Types, such as Default.
3. On the Accounting subtab, select the desired Index Rate in the Variable Rate Index field.
4. If applicable, enter a Variable Rate Spread.
5. NetLoan immediately pulls in rate records from the index and adds them to the loan's Rates sublist. No manual "Initiate Sync" step is needed.
6. Review the Rates sublist to confirm the expected rate lines came in.
7. Generate the loan's amortization schedule as usual — see NetLoan - Generate the Amortization Schedule (General).

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Considerations

• The immediate sync isn't limited to the Variable Rate Index field — changing the Variable Rate Spread, Maturity Date, Origination Date, or Term on a loan that already has a Rate Index assigned will also trigger a rebuild of the Rates sublist.
• On a Pending loan, NetLoan pulls in every active rate record on the index effective on or before the Maturity Date — it does not filter by Origination Date, so rates effective before your Origination Date will also come in. Review the Rates sublist and remove any lines you don't want.
• If you change the Maturity Date to a point earlier than any rate on the index, the Rates sublist can end up empty — the sync has nothing on or before that date to pull in.
• Selecting a Rate Index while Schedule Calculation Type = Calculate Rate isn't supported — NetLoan will alert you and clear the field automatically.

Record Structure

Loan Record

Loan Rates Sublist

Related Articles

• NetLoan - Manage Variable Rate Index
• NetLoan - Generate the Amortization Schedule (General)