# Change loan terms

The Change Terms tool modifies the loan schedule by setting up a custom payment plan with a new frequency, duration, or recurring amount. Use this tool when a borrower's payment terms need to be restructured — for example, to lower the recurring payment amount or change the payment frequency. If the loan has an overdue balance, it is not affected and the borrower still needs to pay it.

**Availability:** All clients
**Required permissions:** `loan:paymentplan.create`
**Loan status:** `active`
**Loan types:** Installment only (not single-term payment frequency)

## Before you begin

- Changing terms re-amortizes the loan. The system calculates a new schedule based on the options you select.
- If a loan is on an active payment plan, you cannot use this tool. Cancel the existing payment plan first, then make the changes.
- The borrower may receive Revised Loan Terms to review. Some companies require showing this disclosure; if your company does, the agent must review the terms with the borrower before confirming.


## Change loan terms

1. From the agent-view Borrower Portal, open the loan and select **Loan options** > **Change terms**.
2. Review the **Original terms** and **Current terms** displayed on the form.
3. Select the **Effective due date** — the due date from which the new terms begin.
4. Choose whether to **Extend loan duration**. When selected, the system adds extra due dates to the end of the loan.
5. Enter the **Number of periods** for the new payment plan.
6. Optionally select **Interest only** to create periods where the borrower pays only interest.
7. Enter the new **Amount** for the recurring payment.
8. Review the **Payment schedule** preview. Select **View full payment schedule** to see all future due dates.
9. If Revised Loan Terms are required, select the **Revised Loan Terms** link to review the disclosure with the borrower.
10. Optionally select **Send notice to borrower** to email the borrower with the revised schedule and Revised Loan Terms (if applicable).
11. If your company requires a Case ID, select a case from the **Case ID** dropdown. See [Global behaviors — Case ID requirement](/servicing-operations/agent-only-tools/agent-tools-overview#case-id-requirement).
12. Select **Change terms**.


The new schedule takes effect immediately. If a notice is sent, the borrower receives an email with the revised schedule. A copy of the Revised Loan Terms (if applicable) is saved to the loan's Documents tab.

## Field reference

| Field | Description | Required | Values / Format |
|  --- | --- | --- | --- |
| **Original terms** | The terms of the loan at origination. | — | Read-only display |
| **Current terms** | The current terms of the loan. | — | Read-only display |
| **Effective due date** | The due date from which the new terms begin. | Yes | Select from upcoming due dates |
| **Extend loan duration** | Adds due dates to the end of the loan. If cleared, the system re-amortizes within the existing duration. | No | Checkbox |
| **Number of periods** | The number of payment periods for the new plan. | Yes | Number |
| **Interest only** | Creates periods where only interest is due. | No | Checkbox |
| **Amount** | The new recurring payment amount. | Yes | Currency |
| **Send notice to borrower** | Sends the revised schedule and Revised Loan Terms to the borrower. | No | Checkbox |
| **Payment schedule** | Preview of the new schedule. | — | Read-only display. Select **View full payment schedule** for all due dates. |
| **Case ID** | The case associated with this action. | Conditional | Select from open cases. Required when `forceCaseIdOnAgentActions` is enabled. |


## Related pages

- [Agent-only loan tools](/servicing-operations/agent-only-tools/agent-tools-overview)
- [Create a payment plan](/servicing-operations/agent-only-tools/agent-tools-payment-plan)
- [Defer payments](/servicing-operations/agent-only-tools/agent-tools-deferrals)
- [Amortize a draw](/servicing-operations/agent-only-tools/agent-tools-amortize-draw)