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• Indicates whether the purpose of the loan or application was for home purchase, home improvement, or refinancing. If the loan falls into more than one of the three categories, report the loan under just one category according to the following rule. If the loan is a home purchase loan, report it as such even if it is also a home improvement loan and/or refinancing; if the loan is not a home purchase loan but is a home improvement loan and a refinancing, report it as a home improvement loan.

  Federal Financial Institutions Examination Council - Cite This Source - This Definition
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  Cite Definition for Loan Purpose

  American Psychological Association (APA)

  Loan Purpose. (n.d.). Home Mortgage Disclosure Act (HMDA) Glossary. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/loan-purpose.

  Chicago Manual of Style (CMS)

  Loan Purpose. www.ffiec.gov. Home Mortgage Disclosure Act (HMDA) Glossary. Federal Financial Institutions Examination Council. http://www.expertglossary.com/definition/loan-purpose (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Loan Purpose." Home Mortgage Disclosure Act (HMDA) Glossary. Federal Financial Institutions Examination Council. 1 April. 2023 http://www.expertglossary.com/definition/loan-purpose.

• Browse Related Terms: Dwelling, Home Improvement Loan, Home Purchase Loan, Loan Purpose, Occupancy, Property Type, Refinancing