623A LoanMaker® Handheld Calculator

Our LoanMaker 23a App
for the iPhone/iPad
has all the same capabilities as the i23a WebService.

Download on the App Store.

623A Product Features

This product is for installment lending with single-premium credit insurance.  Full underwriting limits can be applied to credit insurance calculations.  In addition, truncated insurance (only covering a portion of the loan term) can be computed.  Capping is handled on a prorate basis for both life and disability insurance.

The program computes loans with both net and gross credit insurance, and has the formulas for virtually all the U.S. States.  The payment can be computed, or with a known payment, the available loan amount can be computed.

You can choose among three different calendar systems: Actual/365, Actual to first, or the Federal Calendar for interest calculations.  The U.S. Rule is used to avoid compounding of interest on interest.

This program has the following capabilities:

  • Computes installments loan with single-premium credit insurance.  The payment can be computed from an entered loan amount, or the available loan amount can be computed from an entered payment amount.

  • Three different calendar systems are available (Actual/365, Actual to first, & Federal).

  • Computes credit-insurance single-premium refunds for life and disability insurance.  The original loan term and date, as well as the payoff date are computed.

  • Computes single-payment loans.

  • Computes dealer reserve and interest rate buy down amounts for indirect lending.  The dealer reserve can be computed by three different methods.

  • Computes Truth-in-Savings interest rates and interest earned amounts.

For more information, read or download the current 623A User's Guide.

623A Support

623A Battery Replacement

To change batteries, you should first have the replacement batteries at hand (two CR2032 Lithium batteries are required) and a small screwdriver to remove the two screws on the back of the calculator.

Make sure you install the new batteries with the same orientation (plus and minus) as the original batteries (this is also shown on a diagram on the inside of the back cover). 

The CR2032 battery is available at Radio Shack stores, camera stores or departments, and other places that sell small batteries.  It is round, about 0.75 inches (19 mm) in diameter and 0.125 inches (3.175 mm) thick.

Click here for detailed instructions on changing the handheld calculator batteries (instructions are also in the User's Guide).

You may have to setup the calculator after replacing the batteries.  See Setup Codes or 623A User's Guide.

If the calculator still does not work, the calculator and/or card are probably defective and need repair.  The calculator and card should be Returned for Service.

623A Software Updates

This is a list of the most recent changes together with the date they were made and the software Series number.  The most recent version is at the top of the following list.

There are many versions of this program in use.  Some are quite old, and although they may appear to work properly, they may not be Year 2000 Compliant.

If you are using a version earlier than Series  L44, it should be upgraded.  If you have an earlier style calculator, you need to send it to us -- we will allow a trade-in allowance towards a new 623A.  (Earlier style calculators cannot run the current programs because they are too long and complex.)

If your calculator requires an update and is working properly,
you can order an Instant Upgrade without sending in your calculator.

If your calculator is not working properly and needs repair, or you wish us to install the new software, clean and check the calculator, and replace the calculator's batteries (or if you have an earlier-style calculator that you wish to trade in) see Returning Your Calculator For Service.


Date Series Changes
Feb 2010 M08.1.27 Add plans.
Sep 2004 M08.1.26 Add plans.
Mar 2004 M08.1.24 Update plans, add life type 27.
Oct 2003 M08.1.23 Update plans.
Jul 2003 M08.1.19 Add I&M discount to life type 1, update plans.
Jun 2003 M08.1.16 Add insurance plans.
May 2003 M08.1.14 Add insurance plans.
Nov 2001 M08.1.13 Adjust fields to allow large loans to be calculated.  Total of payments can now reach $9,999,999.99.
Aug 2001 M08.1.12 Add/update several insurance plans.
Apr 2001 M08.1.8 update truncated insurance options for all insurance types.
Mar 2001 M08.1.5 Update Maine truncated life calculations for loans over maximum life benefit.
May 2001 M08.1.3 'Century' of 2-digit year changed to 1980 through 2079.
Add automatic insurance truncation option.
Start new version numbering system (M08.1.3 replaces old version 3.5). 
Dec 2000 M05 Ver 3.5.  Add joint A&H (disability) insurance.
Dec 1999 L91+ Add life type 41 for new New York Reg 27A, add new New York A&H plans.  Previous versions should no longer be used in New York.
Oct 1999 L91= Add life type 70.
Feb 1999 L91 Ver 3.4.  Updated gross life truncated formulae. Add printing capability to Refunds routine, update Pennsylvania A&H tables and life parameters for new regulation (L91-).
Nov 1998 L85 Add life type 82 (net + 2i), type 51 (net + .5i).
Jul 1998 L83 Ver 3.3.  Add setup code 55 to select installment loan payment rounding or truncation.  Add option for simple or compound interest calculation in first period with Federal calendar.
Jun 1997 L61 Ver 3.2. Add Actual/365 (Exact days) calendar. 
Apr 1997 L44 Certified Year 2000 Compliant (some earlier versions may be compliant, but need to be tested).
Jan 1997 L44 Ver 3.1. Add Federal calendar.
May 1995 K35 Add life type 77 (special Maine method).

623A Setup Codes

Configuration of the calculator is done through the Setup Routine.  After you press the Setup Function Key, you have to enter a code number to access a routine.

This is a list of the setup codes and a short description of what they do.

Full details are in the 623A User's Guide



What it does

2 Set the Truth-in-Savings Annual Percentage Yield precision to 2 decimal places.
4 Set the Truth-in-Savings Annual Percentage Yield precision to 4 decimal places.
51 Enables/disables a prepaid charge on installment & single-payment loans.
55 Select installment loan payment rounding or truncation.
181 Compute dealer reserve using difference in finance charges method.
184 Compute dealer reserve using present value method.
185 Compute dealer reserve using prorate method.
222 Displays the current configuration of the calculator.
726 Install/change "Your Name Here" in the calculator's display.
9911 Enables/disables the printer.
97249 Change the insurance rates and A&H deviation percentage.

Advanced Options

52 Select the installment loan calendar
(Actual/365, Actual-to-first, Federal).
61 Enable single premium refund calculations.
See 623A User's Guide for methods.
152 Applies 365/360 calculation option for installment loans.  (Primarily used for commercial loans, use of this option may not be permitted for consumer loans in many states.)
97250 Enable truncated insurance calculations (not allowed in all states).  See 623A User's Guide for options.
197249 Adjust the insurance plan maximum terms and amounts.
297249 Adjust the insurance plan maximum terms and amounts, including aggregate A&H cap.