View 6a: Related Loan Page/Second Lien (Part One)

Second Lien Information

The following data items are required if secondary financing is being delivered.

  • Affordable Loan Indicator [ID 513.1]

    Select if the related loan is classified as an affordable loan – i.e. the related loan is a Community Seconds®.

  • Months in Related Loan [ID 503]

    Enter the scheduled number of periods (as defined by Loan Maturity Period Type) after which a debt will mature.

  • Priority of the Line Against Subject Property [ID 507]

    Select Second Lien specifies the priority of the lien against the subject property.

  • Type of Loan [ID 519]

    Select the type of related mortgage being applied for or that has been granted. Options include:

    • Conventional

    • FHA [limited mortgage support]

    • USDARuralHousing [limited mortgage support]

    • VA [not supported by mortgage]
  • Amount to be Repaid [ID 516]

    Enter the current unpaid principal balance of the closed-end subordinate mortgage.