24 CFR 1007.35 - Loan terms.

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There is 1 Update appearing in the Federal Register for 24 CFR Part 1007. View below or at eCFR (GPOAccess)
§ 1007.35 Loan terms.

To be eligible for guarantee under this part, the loan shall:

(a) Be made for a term not exceeding 30 years;

(b) Bear interest (exclusive of the guarantee fee under § 1007.55 and service charges, if any) at a rate agreed upon by the borrower and the lender and determined by HUD to be reasonable, but not to exceed the rate generally charged in the area (as determined by HUD) for home mortgage loans not guaranteed or insured by any agency or instrumentality of the Federal Government;

(c) Involve a principal obligation not exceeding:

(1) 97.75 percent of the appraised value of the property as of the date the loan is accepted for guarantee (or 98.75 percent if the value of the property is $50,000 or less); or

(2) The amount approved by HUD under this section; and

(d) Involve a payment on account of the property:

(1) In cash or its equivalent; or

(2) Through the value of any improvements, appraised in accordance with generally accepted practices and procedures.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 12 - BANKS AND BANKING
U.S. Code: Title 15 - COMMERCE AND TRADE
U.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE

Title 24 published on 2015-08-22

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 1007 after this date.

  • 2016-11-17; vol. 81 # 222 - Thursday, November 17, 2016
    1. 81 FR 80989 - Equal Access to Housing in HUD's Native American and Native Hawaiian Programs—Regardless of Sexual Orientation or Gender Identity
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, Office of the Secretary, HUD
      Final rule.
      Effective: December 19, 2016.
      24 CFR 5, 1000, 1003, 1005, 1006 and 1007

Title 24 published on 2015-08-22.

The following are only the Rules published in the Federal Register after the published date of Title 24.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2016-11-17; vol. 81 # 222 - Thursday, November 17, 2016
    1. 81 FR 80989 - Equal Access to Housing in HUD's Native American and Native Hawaiian Programs—Regardless of Sexual Orientation or Gender Identity
      GPO FDSys: XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, Office of the Secretary, HUD
      Final rule.
      Effective: December 19, 2016.
      24 CFR 5, 1000, 1003, 1005, 1006 and 1007