We have some second lien down payment assistance loans which have a 0% interest rate. Last year we reported the interest rate on these as NA to cure Validity Error 677 which stated that the rate had to be greater than 0.00.

I heard that we are now supposed to report these as 0.00 this year and not as NA. I am trying to find something that actually tells me of this change. Has anyone heard or seen this also?

Thanks.

That edit was modified in 2019 to allow an interest rate of 0:

5.2 2019 Revised Edits
TABLE 3: 2019 EDITS REVISED FROM 2018
Type of Data Field
Edit Number
Data Point
Modification
Loan/Application Register
V677
Interest Rate
Modified to allow a response of 0.

Thank you again hmdagal! Looks like I got some editing to do on my LAR before it gets submitted