View 4d: Loan Origination Page/New or Refinanced Loan at Closing (Part Four)

Closing Costs Information allows for collection of one-to-many source of funds used for the loan.

  • Closing Cost Contribution Amount [ID 151] (conditionally required for an affordable loan with closing costs)

    Enter the dollar amount of the individual Closing Cost Funds Type.

  • Closing Cost Funds Type [ID 152/153] (conditionally required)

    Select the general name (type) of item commonly used as payment for the closing cost. Options include:

    • Bridge Loan

    • Cash On Hand

    • Checking Savings

    • Contribution

    • Credit Card

    • Equity On Sold Property

    • Equity On Subject Property

    • Forgivable Secured Loan

    • Gift Funds

    • Grant

    • Life Insurance Cash Value

    • Lot Equity

    • Other: If Other is selected, options include:

      • Aggregated Remaining Types

      • Secondary Financing Closed End

      • Secondary Financing HELOC

    • Premium Funds

    • Rent With Option To Purchase

    • Retirement Funds

    • Sale Of Chattel

    • Secured Loan

    • Stocks And Bonds

    • Sweat Equity

    • Trade Equity

    • Trust Funds

    • Unsecured Borrowed Funds

  • Closing Cost Funds Source Type [ID 154/155] (conditionally required)

    Select the source or contributor of funds used for the closing cost. Options include:

    • Borrower

    • Community Non-Profit

    • Employer

    • Federal Agency

    • Lender

    • Local Agency

    • Other: If Other is selected, options include:

      • Aggregated Remaining Source Types

      • FHLB Affordable Housing Program

      • USDA Rural Housing

    • Property Seller

    • Relative

    • Religious Non-Profit

    • State Agency