1085 Loan Payment Type Code
Code identifying the nature of loan payment.
- Type
- Identifier (ID)
- Length
- Min 2 / Max 2
- Codes
Code | Description |
---|
01 | Adjustable Payment Based on Index |
02 | Fixed Payment with Balloon Option |
03 | Pledged |
04 | Growing Equity Mortgage (GEM) |
05 | Fixed Payment |
06 | Graduated Payment Mortgage (GPM) |
07 | Interest Only with Balloon |
08 | Graduated Payment Adjustable Rate Mortgage |
09 | Extended Term |
10 | Wraparound Mortgage |
11 | Collateral Pledge Graduated Payment Mortgage |
12 | Fixed Payment With Buydown |