The total dollar amount paid by the borrower for the property pledged as security for the mortgage. The purchase price is presented on the offer to purchase.
Valid Values:
Valid format is “#########”; for example, enter $250,250.00 as “250250” (do not enter commas or decimals).
When to Use:
Required for purchase transactions when the “Loan Purpose Type” (Sort ID# 315) is equal to "Purchase" and “Lien Priority Type” (Sort ID# 313) is "First Lien". Effective 07/28/2025, round down to the nearest whole number.
Note: This data point not required for refinance transaction Mortgages.
How to Use:
For loans evaluated through Loan Product Advisor® (LPA), the Purchase Price Amount must equal the LPA data point Sales Contract Price minus the LPA data point Total Sales Concession Amount.
Enter the purchase price of the property, net of any adjustments made for sales concessions and:
For GreenCHOICE mortgages, enter the energy/water efficiency improvement costs in the Energy Improvement Amount (Sort ID# 244.1) data point.
For CHOICERenovation mortgages including CHOICERenovation Mortgage With Recourse, CHOICEReno Express DTS Area and
CHOICEReno Express, enter the total renovation costs in the Alterations Improvements and Repairs Amount (Sort ID# 193.1) data point.
For Income Based Deed Restrictions Terminate mortgages, enter the purchase price of the property, net of any adjustments made for sales concessions.
