Below, you'll find an overview of the steps involved in recording your buyer's complete purchase in HomeKeeper, including closing reconciliation, recording funding sources and their terms, and monthly housing costs. 

Step One: Navigate to the Purchase Tab

1. First, click into the Service File for the Homeowner
2. Next, click on the Purchase Tab (you can also click the “Enter Purchase Information” custom link to open the full-screen purchase page)

Step Two: Update Program and Property Information

3. Enter “Initial Purchase” or whether or not this is the first time this property has been owned by a qualified buyer
   1. If “No” connect to the Seller's Service File under “Seller” (no need to record your program here)
4. Record the “Program” the Homebuyer is participating in if blank.
5. Connect to the "Property" record for the property that is being purchased. 

Step Three: Closing Reconciliation 

Using your purchase documentation, enter in the following: 

6. Closing Date 
7. Effective Purchase Price
8. Purchase Price 
9. Settlement Charges to Borrower
10. Other Amount Due from Buyer 
11. Gross Amount Due from Borrower

Step Four: Enter Funding Sources

Every client household that purchases a home will have Funding Sources linked to their Service File. These sources represent the financing a buyer uses to cover the Gross Amount Due at closing (home price + closing costs).

Funding Sources should add up to equal Gross Amount Due from Borrower. This will include individual Funding Sources for: 

• Primary Mortgage 
• Second or Third Mortgages 
• Down Payment Assistance 
• Gift Funds 
• Seller's Credits 
• Buyer's Cash 

To enter funding sources scroll down to the Funding Sources Section then: 

12. Click New Funding Source to add each source of funds
13. Enter the “Name" of the source, the ”Amount," and the “Funding Source Type.”  
14. To create a Service File Allocation from a Loan or Grant fund managed by your program, connect to an Opportunity. 
15. Use the Loan Information section to enter the terms of your loans. 

Step Five: Add Buyer's Purchase Loan Appraisal

16. Click “New Appraisal” to add an Appraisal Record that is related to both the Property Record and the Service File. 
17. Enter “Appraised Unrestricted Market Value,” “Appraisal Type,” and “Date of Appraisal” along with any appraisal details needed, and click “Save.” 

Step Six: Record Monthly Housing Costs

18. Monthly Principal and Interest are calculated automatically based on the Funding Source Loans you entered above. 
19. Enter Monthly Tax Liability and Monthly Insurance Costs, which are available on your Closing Disclosure
20. Add any additional monthly housing costs including “Land Use Fee,” “Replacement Reserves,” “HOA/Condo Dues,” and “Other Monthly Housing Expenses/Adjustments”

Step Seven: Update Contact Information and Status'

When a homebuyer purchases a home, you will need to update their Contact information so that their address reflects the home they have purchased. This can be done automatically from the purchase page. 

21. Simply check off the box next to any address fields you would like to update on the related Contact information pages, and those records will be updated. 

You may also need to update the statuses of the Service File, Application Household Members, and Property related to this purchase. 

22. All of these statuses can be updated from the purchase page as well. Select the “Current Owner” status for the Service File, and the other records will update automatically. 

Step Eight: Certify the Purchase

23. Finally, once you have entered all of the information above, and are confident that it is complete and accurate, click “Certify Purchase.”