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 |
| 13 | Other Loan Payment Type |
| 14 | Step Rate |
| 15 | Tiered |
| 16 | Renegotiated Rate |
| 17 | Reverse Annuity |
| 18 | Reverse Installment Buydown |
| 19 | Shared Appreciation |
| 20 | Second Mortgage |
| 22 | Non-level |
| 23 | Biweekly |
| 24 | Five-year Balloon |
| 25 | Seven-year Balloon |