Calyx Point 7 - Investment Loans; Creating Investment Loans

Point User Guide 293
Investment loans
4 In the If Construction Loan section, enter the estimated construction duration, in
months, in the
Period field or click Calendar and enter the estimated date range of the
construction.
5 Enter the amount of the required reserve in the
ReqRsv field.
Investment loans
Creating investment loans
To complete a loan on investment property:
1 Create a new borrower file.
2 Complete the
Borrower Information screen as you normally would with the
following exceptions:
a In the
Purpose of Loan section, select Investment.
b Complete the
SalesPrice, LoanAmt, NoteRate, and Term/Due fields.
If the loan is a refinance, complete the
ApprValue field and leave the SalesPrice
field blank.
c Click the Investment button to open the
Investment Information dialog box.
d Complete the
GrossRent and OccRate fields for the subject property.
3 Open page 2 of the
Loan Application and complete the following information in the
Monthly Income and Combined Housing Expense Information section:
a Complete the
Gross Monthly Income section for the borrower and the co-
borrower, but exclude the
NetRent field.
If net rent is a positive amount, it is populated from the
Schedule of Real Estate
Owned
section on page 3.
Related information
Refer to Chapter 5, Loan Application, for more information about the
Loan Application.
Note
The Net Rent amount transfers with to the PosCashFlow(SubjProperty)
field or NegCashFlow(SubjProp)in the
Underwriting section in he
Transmittal Summary (1008).
Note
The amount in the Totalfield for the Housing Expenses represents the
Principal, Interest, Tax and Insurance (PITI) of the subject property.
The amount in the NetRent field equals the GrossRent field times the Occ
Ratefield minus the PITI.
The NetRent field shows the positive cash flow or negative cash flow for
the subject property.