---
title: "Simulate Loan"
method: POST
path: "/1.0/simulateLoan"
tags: ["Loan"]
---

# Simulate Loan

`POST /1.0/simulateLoan`

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 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 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.

## Response `200`

Success

- object
  - `status_code` integer, nullable, required — The response status code. May return a string for some statuses.
  - `status` string, nullable, required — The condition of a process or response
  - `processing_time` number, float, nullable, required — The time elapsed in processing the transaction
  - `echo` object, nullable, required — A structure that contains transaction ID information
    - `transaction_id` string, nullable, required — An ID that represents an API transaction
    - `provider_timestamp` string, date-time, nullable, required — Store a related timestamp for reporting and troubleshooting purposes
    - `provider_transaction_id` string, nullable, required — Secondary transaction identifier (generated by a provider)
  - `system_timestamp` string, date-time, nullable, required — A system generated timestamp
  - `rtoken` string, nullable, required — A Galileo-generated ID used for tracking
  - `errors` string[] — A list of errors generated while the request was processed
  - `response_data` object, nullable, required — A structure for the response data. It can be empty but usually will contain information.
    - `simulation_id` string, required — Unique identifier associated with each loan simulation.
    - `interest_rate` number, required — Interest rate applied to the loan, as defined by the subproduct
    - `sub_product_id` string, required — Identifier for the loan subproduct
    - `simulation_date` string, date, required — Date the simulated loan is created.
    - `initial_projected_maturity_date` string, date, required — Projected date when the loan will be paid off. This date is calculated only when a loan is simulated or created and cannot be sent again.
    - `itemization_of_amount_financed` object
      - `loan_amount` number, required — Total loan amount borrowed by the customer. This is the sum of the `disbursed_amount`, `origination_fee`, and any other fees associated with the loan.
      - `disbursed_amount` number, required — Total loan amount disbursed to the customer
      - `projected_interest_amount` number, required — The total interest amount the borrower will be paying
      - `projected_fees_amount` number, required — Total fees that the customer is projected to pay over the course of the loan
    - `origination_fee` number, required — Fee charged at loan creation. Returns 0 if there is no origination fee.
    - `rate_type` 'fixed' | 'variable', required — Indicates whether the interest type is `FIXED` or `VARIABLE.
    - `application_number` string, required — Unique identifier that you generate for the loan application. This identifier is associated with loan simulations. You can give this identifier to customers for customer service purposes.
    - `amortization_schedules` object[], required
      - `amort_installment_number` integer, required — The number of the installment
      - `amort_payment_due_date` string, date, required — Date that the payment for this installment is due
      - `amort_payment_amount` number, required — Total amount owed for this installment, including the principal amount,interest and fees
      - `amort_payment_principal` number, required — Amount owed on the principal loan for this installment
      - `amort_payment_fees` number, required — Fee amount that will be paid in each installment
      - `amort_payment_interest` number, required — Amount owed on the loan interest for this installment
      - `amort_payment_balance` number, required — Remaining balance after this installment is paid
    - `count_of_installments` integer, required — Number of installment scheduled
    - `installment_amount` number, required — Payment due at each installment. This is the same amount as `amort_payment_amount`.
    - `first_installment_due_date` string, date, required — Date the first installment is due
    - `loan_apr` number, required — Annual percentage rate for interest charged on the loan. Calculated from the interest defined by the subproduct, the length of the loan, the origination fee (if applicable) and other fees (if applicable).
    - `late_fee` number, required — Late fee for the loan

---

[API](https://skmtc.net/galileo-ft/apis/program-api.md) · [All operations](https://skmtc.net/galileo-ft/apis/program-api/llms.txt) · [OpenAPI document](https://skmtc-service-staging.skmtc.workers.dev/v1/apis/galileo-ft/program-api/revisions/bcd728f97a18/schema)