CRM Create Script - change the default value based on an IF statement

SOLVED

I've been scratching my head on this one for the past couple of days and wonder if anyone can help? I've seen a couple of similar queries here but when I've tried to implement the results I've not had any luck. 

I'm trying to set the default value of a fee field to 150 when the loan type and loan purpose meet specific criteria, so far I've had no luck! 

Below is what I've tried using most recently. 

var Application = CRM.FindRecord('application',Value('appl_applicationid'));
var loanType = CRM.GetContextInfo("Application","appl_loantype");
if (Application.appl_loan_purpose == 'Purchase' && loanType == 'Buy')
{
	DefaultValue = 150;
}
else
{
	DefaultValue = 100;
}

Thanks! 

James.