The Sources and Uses section helps check the validity of a loan request. If the information here is far from 100%, this means something in the loan application is not adding up. This section is displayed to the lenders in its entirety.
RealAtom automatically calculates Closings Costs as 2% of the loan request amount. In order to balance Sources and Uses, make sure that you have the borrower equity entered in the Sources; also, make sure that all the projected expenditures are accounted for in the Uses.
If you see a red “Sources and Uses total should be equal” message, then you need to make a change so that the “Total Sources” equals the “Total Uses.”
Note: Lenders will not see this error message.