24 CFR 203.21 - Amortization provisions.

Regulations last checked for updates: May 16, 2024

Title 24 - Housing and Urban Development last revised: May 07, 2024

View all text of Subpart A [§ 203.1 - § 203.249]

§ 203.21 - Amortization provisions.

The mortgage must contain complete amortization provisions satisfactory to the Commissioner, requiring monthly payments by the mortgagor not in excess of his reasonable ability to pay as determined by the Commissioner. The sum of the principal and interest payments in each month shall be substantially the same.

authority: 12 U.S.C. 1707,1709,1710,1715b,1715z,1715u,and; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)

source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 203.21