292 Calyx SoftwareLoan scenarios4 Open the Truth-In-Lending form and complete the Date Prepared and the 1st PmtDate fields. Click Calculate at the bottom of the Truth-In-Lending (Reg. Z) screen.Creating construction-to-permanent loansComplete the Loan Application as you would for any other loan. The followingexceptions apply for construction-to-permanent loans:1 Open page 1 of the Loan Application.2 In the Term__mths field in the Type of Mortgage and Terms of Loan section, enter theloan term in months after the construction is complete.For example, enter 360 for a 30 year term. Do not include the construction period aspart of the term.3 In the Purpose of Loan section, select the Construction– Permanent check box.4 In the If Construction Loan section, enter the estimated construction duration, inmonths, in the Period field or click Calendar and enter the estimated date range of theconstruction.5 If the loan requires a reserve, enter the amount of the reserve in the Req Rsv field.Otherwise, leave the field blank.Creating construction loans with required reservesComplete the Loan Application as you would for any other loan. The followingexceptions apply for construction loans that require reserves.1 Open page 1 of the Loan Application.2 In the Term__mths field in the Type of Mortgage and Terms of Loan section, enter theloan term in months after the construction is complete.For example, enter 360 for a 30 year term. Do not include the construction period aspart of the term.3 In the Purpose of Loan section, select the Construction check box.Related information• Refer to Chapter 5, Loan Application, for more information about theLoan Application.• Refer to Chapter 6, Disclosures and other forms, for moreinformation about the Borrower Information screen, Good FaithEstimate, and Truth-In-Lending disclosure.Related informationRefer to Chapter 5, Loan Application, for more information about theLoan Application.NoteRequired reserves increase the APR calculation.
