180
Calyx Software
FHA and VA loans
Many of these fields are populated from information that was entered on the
Borrower
Information
screen,
Loan Application
, and
Good Faith Estimate
.
a
To enter or edit income information, click
Base Income
to access the
Monthly
Income Calculator
.
b
If the borrower makes monthly child support payments and they were not entered
in the
Loan Application
, enter the payment amount in the
Child
Support
field.
c
In the
Borrower Funds to Close
section, complete the
Required
,
Verified
Assets
,
and
Source
of
Funds
fields.
To enter the closing costs manually, click the
Closing
Costs
field lock box to enable
the field.
d
Enter the number of months of reserves that are required in
No.
of
Months
Reserves
fields.
e
Complete the
Lease/Ground
Rent
field in the
Proposed Monthly Payments
section, if applicable.
f
Enter the borrower and co-borrower CAIVR numbers.
g
Select the
Yes
or
No
check box for both the borrower and co-borrower to indicate
if their name is on the LDP/GSA lists. If their name is on the list, they are ineligible
to participate in the loan program.
Attention
Enter secondary income sources and rental income on pages 2 and 3 of
the
Loan Application
.
Attention
Enter other debts and obligations on page 3 of the
Loan Application
.
Attention
Enter proposed monthly housing expenses on page 2 of the
Loan
Application
or by clicking the
HE & Oblig
button on the
Borrower
Information
screen.
Note
The Credit Alert Interactive Voice Response system (CAIVR) is a Federal
database of debtors who have defaulted on debts to Federal agencies.
Loan processors use this database to prescreen applicants by submitting
their social security number for verification. If their social security number
is not included in the database, a clear confirmation code (CAIVR
number) is issued and they can proceed with the loan.
