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Loan and Property Information

This document shows you the Loan & Property Information screens and gives information about some of the fields. 

You may scroll through this document or click a link to be taken to the specified screen. 

Loan and Property Information

Other New Mortgages

Rental Income

Gifts or Grants

 

Loan and Property Information

 

Here are the drop-down list options for the following fields:

Field Name

Options 

Loan Purpose
  • Purchase
  • Refinance

Purpose of Refinance (sub-category of Loan Purpose field when Refinance is selected)
  • Cash Out
  • Limited Cash Out
  • No Cash Out

Purpose of Cash Out Refinance (sub-category of Purpose of Refinance field when Cash Out is selected)
  • Debt Consolidation
  • Home Improvement
  • Other

Occupancy
  • Investment Property
  • Primary Residence
  • Second Home

Construction Method
  • Manufactured
  • Site Built
  • Other

Manufactured Home Width (sub-category of Construction Method field when Manufactured orOther is selected)
  • Multi Wide
  • Single Wide
MH Advantage (sub-category of Construction Method field whenOther is selected)
  • MH Advantage

 

Notes: The loan amount is displayed on this screen, but it is entered on the L4. Mortgage Loan Details screen.

The No Cash Out option in the Purpose of Refinance field is only for government loan casefiles. 

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Other New Mortgages

Here are the drop-down list options for the following fields:

Field Name

Options 

Lien Type
  • First Lien
  • Subordinate Lien
  • Other

Funds Source
  • Community Nonprofit
  • Employer
  • Federal Agency
  • Lender
  • Local Agency
  • Parent
  • Property Seller
  • Relative
  • Religious Nonprofit
  • State Agency
  • Unmarried Partner
  • Unrelated Friend
  • Other

Notes: Other new mortgages should not be in the first lien position. If you select First Lien as the Lien Type, DU will return and Out of Scope recommendation.

When entering other new mortgage loans, only the subordinate lien in the second position should be entered with a Lien Type of Subordinate Lien. Any additional subordinate liens should have a Lien Type of Other. 

 

Related Job Aid
 Refer to the Undrawn HELOC Amount section in the Navigating Loan Application Fields job aid for information about how the Credit Limit field is used. 

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Rental Income

Related Job Aid
Refer to the Subject Property Income section in the Navigating Loan Application Fields job aid for information about rental income from the subject property.

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Gifts and Grants

Here are the drop-down list options for the following fields:

Field Name

Options 

Asset Type
  • Cash Gift
  • Gift of Equity
  • Grant

Source
  • Community Non Profit
  • Employer
  • Federal Agency
  • Lender
  • Local Agency
  • Parent
  • Relative
  • Religious Non Profit
  • State Agency
  • Unmarried Partner
  • Unrelated Friend
  • Other

 

Related Job Aid

Refer to the Gift/Grant Source section in the Navigating Loan Application Fields job aid for information about how DU uses the No option and Yes option in the Deposited field. 

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