# loan # loan An existing mortgage against the property: amounts, terms, rates, payment schedule and status. Represents a mortgage loan with comprehensive financial terms, conditions, and status information. The question it answers ## Will this close cleanly? Liens, encumbrances, tax position, and association obligations determine whether a transaction completes and on what timeline. Other classes answering this question ## Why it matters Encumbrances determine whether a transaction closes and on what timeline. An open lien is a payoff; a chain of assignments with a gap is a title problem; a loan in default is a different transaction entirely. The class carries the loan as recorded against the property, which is a different thing from the loan being originated — that is the mortgage model's `loan`. ## In practice Recorded loan data comes from the deed index rather than from a servicer, so it reflects what was filed rather than the current balance. Treating a recorded original amount as an outstanding balance is the common error, and the class keeps the recording data alongside so the distinction stays visible. ## Properties | Property | Type | Definition | | --- | --- | --- | | `source_http_request` | `object` | HTTP request configuration for retrieving this data. | | `request_identifier` | `string | null` | Identifier value that should be substituted into the source HTTP request to retrieve this specific data. | | `borrower_count` | `integer | null` | The number of borrowers obligated on the note. | | `end_date` | `string | null` | The end date is the date when the borrower is expected to have fully repaid the mortgage loan and the mortgage is considered to be fully paid off. This date is typically specified in the mortgage agreement and is calculated based on the term of the mortgage, which is the length of time the borrower has to repay the loan. | | `lien_priority_type` | `string | null` | Defines the priority of claims against the property in the event of default or foreclosure. The priority determines the sequence of debt repayment if the property is sold or foreclosed on `FirstLien``ThirdLien``FourthLien``SecondLien` | | `loan_amount` | `decimal` | Loan amount refers to the total amount of money that a borrower borrows from a lender to purchase a property. This amount is typically based on the purchase price of the property, minus any down payment that the borrower is able to make. | | `loan_closing_date` | `string | null` | The date on which the mortgage loan is officially closed and the loan funds are disbursed to the borrower. | | `loan_purpose_type` | `string | null` | Specifies the primary reason or purpose for which the loan was taken. `Refinance``Purchase``MortgageModification``Unknown` | | `lender_name` | `string | null` | The name of the institution or company that originated or currently owns the loan. | | `mortgage_type` | `string | null` | Mortgage type refers to the specific type of mortgage loan that a borrower obtains to finance the purchase or refinance of a property. There are several different types of mortgage loans, each with its own set of features, eligibility requirements, and interest rates. `Conventional``Va``UsdaRuralDevelopment``LocalAgency``Fha``PublicAndIndianHousing``StateAgency` | | `note_amount` | `decimal` | The amount to be repaid as disclosed on the note. | | `note_date` | `string | null` | The date on the note. | | `note_rate_percent` | `decimal` | The actual interest rate as disclosed on the note. | | `occupancy` | `string | null` | Occupancy type refers to the way in which a property is used or occupied by its owner or tenant. Occupancy type is used in determining the terms of a mortgage or loan and the level of risk associated with a property. `SecondHome``PrimaryResidence``Investment` | | `prepayment_penalty_indicator` | `boolean` | Indicates whether the loan includes a penalty charged to the borrower in the event of prepayment. | ## Provenance and coverage A record of this class is validated against the same definition whatever jurisdiction it came from, which is what makes two counties comparable without a per-county adapter. A jurisdiction appears below only where a committed configuration serves this class's surface. - Lee, Florida - Palm Beach, Florida - Miami-Dade, Florida - Orange, Florida - Santa Clara, California How a new jurisdiction is brought online