When setting up a DPA loan in ARIVE, it must be configured correctly. You should always confirm with the lender how the DPA should be entered into the LOS.

When entering the Down Payment Source, you will typically select either Grant, Forgivable Secured Loan, or Secondary Financing. If you aren't sure which one to select, confirm with the lender.

If the DPA is a Grant, you will need to also add the grant to the Financial Info tab of the loan file, as an Asset.

If the DPA is not a Grant, you will need to add the DPA loan to the Subordinate Liens section.

Depending on the specific type of DPA, the Lien Type may be either Mortgage or (if the DPA is income-restricted) Affordable.

You also must select the correct Fund Source Type, which again will depend on the specifics of the DPA.

Other configurations found in the Loan & Property tab that may be relevant to your DPA loan:

The Community Lending Product dropdown.

The LPA Offering checkbox and dropdown.

The Affordable Loan checkbox (if the DPA is income-restricted).

Again, you should always confirm with the lender how the DPA should be entered into the LOS.

When pricing the loan in the Products & Pricing tab, the dropdown under the Subordinate Liens section defaults to Std./HELOC Draw. For DPA loans, you will need to change this to Community.

Not all lenders have DPA products available in ARIVE.