When viewing the Mortgage details of a property, you'll most often see the Loan Type listed by name (Conventional, FHA, Commercial, etc...).
However, occasionally you may come across a loan record that lists a letter or number code instead of the name of the Loan Type. For example, the image below displays a mortgage with the Loan Type listed as "N".
When this occurs, you can use the reference table below to determine the corresponding loan type.
| Code | Loan Type |
|---|---|
| 1 | Stand Alone First |
| 2 | Stand Alone Second |
| 3 | ARM (As Of August 2009) |
| 4 | Amount Keyed Is An Aggregate Amount |
| 5 | USDA |
| 6 | Closed-End Mortgage |
| A | Assumption |
| B | Building Or Construction Loan |
| C | Cash |
| D | 2nd Mortgage Made To Cover Down Payment |
| E | Revolving Credit Line |
| F | FHA |
| G | Fannie Mae/Freddie Mac |
| H | Balloon |
| I | Farmers Home Administration |
| J | Negative Amortization |
| K | Loan Amount $1-9 Billion (Multiply Loan Amount By 10 For Actual Amount) |
| L | Land Contract |
| M | Modification |
| N | New Conventional |
| O | Commercial |
| P | Purchase Money Mortgage |
| Q | Undefined/Multiple Amounts |
| R | Stand Alone Refinance |
| S | Seller Take-Back |
| T | Loan Amount $10-99 Billion (Multiply Loan Amount By 100 For Actual Amount) |
| U | Unknown |
| V | VA |
| W | Future Advance Clause/Open End Mortgage |
| X | Trade |
| Y | State Veterans |
| Z | Reverse Mortgage |