1082 Use of Proceeds Code
1082 Use of Proceeds Code
Code specifying how proceeds will be used or why they are being requested
Type
ID
Length
Max 2 / Min 2
Codes
<> 01
Cash
<> 02
Change in Rate or Term or Both
<> 04
Home Improvement
<> 05
Education
<> 06
Medical
<> 07
Increase Rate
<> 08
Reduce Term
<> 09
Adjustable Rate to Fixed Rate
<> 12
Debt Consolidation
<> 13
Change in Loan Type
<> 14
Other Purpose
<> 16
Purchase
<> 17
Reduce Rate
<> 18
Equity Takeout
<> 20
Construction to Permanent
<> 21
Construction
<> 22
Combined Construction and Permanent
<> 23
Increase Term
<> 24
Balloon Satisfaction
<> 25
Rate or Term Refinance with Cash Out
<> ZZ
Mutually Defined