Software Requirements Specification (SRS) for LTV (Loan-to-Value) Calculator

Introduction

Purpose:

The purpose of this document is to define the requirements for the development of an LTV (Loan-to-Value) Calculator. This web-based application aims to assist users in understanding the loan-to-value ratio for mortgages and other secured loans.

Scope:

The LTV Calculator will provide users with an intuitive interface to input loan and property details and calculate the loan-to-value ratio. The application will support various types of secured loans, including mortgages and car loans.

System Overview

System Description:

The system will be a client-server application. Users will access the LTV Calculator through a web browser. The server will handle the logic for LTV ratio calculations.

System Architecture:

The application will follow a three-tier architecture: presentation layer (client-side browser), application layer (server-side processing), and data layer (storage and retrieval of data).

Functional Requirements

Use Cases:

Calculate Loan-to-Value Ratio:

• Users can input loan details such as loan amount and property details such as property value.
• The system will calculate and display the loan-to-value ratio based on the provided information.
• Users can understand the impact of changes in loan amount or property value on the loan-to-value ratio.

Functional Requirements:

Input:

The system shall allow users to enter the following details:

• Loan Amount (in INR)
• Property Value (in INR)

Calculation:

• The system shall calculate the loan-to-value ratio based on the provided loan amount and property value.

Output:

• The system shall display the calculated loan-to-value ratio to the user.

External Interface Requirements

User Interfaces:

• The user interface shall consist of input fields for loan amount and property value, along with a “Calculate” button.
• The calculated loan-to-value ratio shall be displayed prominently.

Hardware Interfaces:

• The system should be compatible with standard computing hardware.

Software Interfaces:

• The application will be developed using HTML, CSS, and JavaScript for the frontend.
• The backend can be implemented using a server-side framework (e.g., Node.js, Django) with a database for data storage.

Communication Interfaces:

• The application will communicate with the server for LTV ratio calculations.

Performance Requirements

Response Time:

The system should provide a response time of under 3 seconds for a typical user input.

Throughput:

The application should handle at least 50 simultaneous users.

System Constraints

 Regulatory Requirements:

The application should adhere to relevant financial regulations.

Hardware Limitations:

The system should be compatible with devices supporting standard web browsers.

Security Requirements

Authentication:

User authentication may be implemented to ensure data security.

Data Protection:

User data, if stored, should be securely protected.

Quality Attributes

Reliability:

The application should provide accurate loan-to-value ratio calculations based on the entered loan and property details.

Maintainability:

The code should be well-documented for ease of maintenance.

Usability:

The user interface should be intuitive, requiring minimal guidance.

Testing Requirements

Test Cases:

Test cases should cover various scenarios with different loan amounts and property values to ensure accurate loan-to-value ratio calculations.

Test Case 1:

• Inputs: Loan Amount = 1,00,000 INR, Property Value = 1,20,000 INR.
• Expected Output: Loan-to-Value Ratio ≈ 83.33%

Test Case 2:

• Inputs: Loan Amount = 5,00,000 INR, Property Value = 8,00,000 INR.
• Expected Output: Loan-to-Value Ratio ≈ 62.5%

Test Case 3:

• Inputs: Loan Amount = 2,00,000 INR, Property Value = 1,50,000 INR.
• Expected Output: Loan-to-Value Ratio ≈ 133.33%

Acceptance Criteria:

The application is considered successful if it produces correct loan-to-value ratios based on the provided loan and property details.

Project Timeline

Milestones:

Design, Development, Testing, Deployment.

Development Phases:

Frontend development, Backend development, Testing, Deployment.

Glossary

None

Database Structure

Tables:

LTV_Calculator_Records:

• RecordID (Primary Key, Auto-increment)
• LoanAmount (Decimal)
• PropertyValue (Decimal)
• LoanToValueRatio (Decimal)
• CalculationDate (DateTime)

Conclusion

This SRS document outlines the requirements for the LTV (Loan-to-Value) Calculator. It serves as a guide for the development team and ensures that the application meets the specified criteria. Review and approval by relevant stakeholders are essential before proceeding with the development phase.