What fields does DU use to determine sales price and appraised value?

Sales Price and Appraised Value Used by DU

DU uses information in the loan application to determine the sales price and appraised value it uses to calculate the LTV, CLTV, and HCLTV ratios. DU uses the amounts entered in the following data fields:

Sales price = Line a + Line b + Line c (in Section VII Form 1003 7/05 rev.(6/09) or Section L4 Form 1003 1/2021)

• Line a = Purchase price/Sales Contract Price (the sales price for purchase transactions, or the cost of construction for construction transactions).
• Line b = Alterations, improvements, renovations, repairs (the cost of these items for HomeStyle Renovation transactions ).
• Line c = Land (For certain construction  or manufactured home transactions the cost or value of the land if the borrower acquired the lot separately).

Appraised value = Property Appraised Value (Property Value in Form 1003 1/2021) in the online loan application.

Note: If the estimated value that was submitted to DU differs from the actual value, the lender must correct the information in DU and resubmit the loan casefile.

For additional information, see B2-1.2-01, Loan-to-Value (LTV) Ratios.