Creating Concurrent Purchase Loans (80-10-10) - Calyx Point 7 User Manual

Click the Sub Financing button to open the
9
dialog box.
10 Enter the amount of the first mortgage.
11 Enter other mortgage payments in the
OK.
12 In the
enter the present mortgage payment for the borrower's primary residence and any
additional costs such as insurance and taxes.

Creating concurrent purchase loans (80-10-10)

When using a first and second loan for a purchase, the first loan is usually for 80% of the
value of the home, the second loan is for 10%, and the remaining 10% is the buyer's down
payment.
Point User Guide
Present Monthly Housing Expense
Related information
• Refer to Borrower and prospect information
for more information about the
• Refer to Chapter 5,
Loan Application.
Down payment includes the second mortgage loan amount combined
with the down payment. It does not show on the
The monthly payment calculates in the HE & Oblig field, and transfers to
Loan Application
page 2 of the
Housing Expenses
section.
Subordinate Financing Information
Other Financing Information
section on page 2 of the
screens, on page 151,
Borrower Information
Loan Application, for more information about the
Attention
Loan Application
Proposed Monthly
. It is displayed in the
Subordinate financing
section and click
Loan Application ,
screen.
.
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