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      Loan Application

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MBOS Loan Application
Common Error Messages and Explanations

(Click on a message to go to an explanation)

RESULTING REPAYMENT AMOUNT EXCEEDS MAXIMUM AMOUNT ALLOWED

RESULTING REPAYMENT AMOUNT IS LESS THAN MINIMUM ALLOWED

REPAYMENT AMOUNT & TERM NOT CONCURRENTLY MODIFIABLE

ENTER THE SINGLE PAYMENT AMOUNT FROM THE RESULTS COLUMN
INTO THE INPUT COLUMN AND CLICK RECALCULATE IN ORDER TO MEET
YOUR REQUIRED 5 YEAR REPAYMENT

 INPUT VALUE FOR A NUMERIC FIELD IS NOT NUMERIC

BASED ON YOUR LOCATION, YOU ARE REQUIRED TO SUBMIT A PAPER APPLICATION


RESULTING REPAYMENT AMOUNT EXCEEDS MAXIMUM AMOUNT ALLOWED
This repayment amount is more than 25% of your biweekly/monthly salary. Please try reducing the amount of your loan request.
Then click the "Recalculate" button.

If the minimum repayment cannot be adjusted to less than 25% of salary, you may be limited in how much you may borrow.


RESULTING REPAYMENT AMOUNT IS LESS THAN MINIMUM ALLOWED
The loan rules require that you repay your loan at the same rate at which you contribute to your pension. Please click the "Restore Max/Min" button. The repayment amount shown will be the lowest possible and you cannot pay less than the amount displayed.


REPAYMENT AMOUNT & TERM NOT CONCURRENTLY MODIFIABLE
You tried to change both the dollar amount of the biweekly/monthly payment and the number of payments. Only one of these fields can be changed at a time. Please click the "Restore Max/Min" button. Then modify either the amount of the biweekly/monthly payment or the number of payments.


ENTER THE SINGLE PAYMENT AMOUNT FROM THE RESULTS COLUMN INTO THE INPUT COLUMN AND CLICK RECALCULATE IN ORDER TO MEET YOUR REQUIRED 5 YEAR REPAYMENT.
The biweekly/monthly payment cannot pay the outstanding loan balance in the time remaining in your current 5-year repayment window. Delete the payment amount shown in the Single Biweekly/Monthly Payment Requested field in the "Input" column and replace it with the amount shown in the "Results" column. Then click the "Recalculate" button.


INPUT VALUE FOR A NUMERIC FIELD IS NOT NUMERIC
Only numbers can be entered into the form fields. Remove any commas or other non-numeric characters from the Input fields. Then click the "Recalculate" button.


BASED ON YOUR LOCATION, YOU ARE REQUIRED TO SUBMIT A PAPER APPLICATION
One or more details of the member's account prevents access to the MBOS Loan Application. Print the error page and and attach it to a Certified Loan Request form which is available from your Human Resources Representative.

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