24 CFR 206.17 - General.

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§ 206.17 General.

(a)Payment options. A mortgage shall initially provide for the tenure payment option ( § 206.19(a)), the term payment option ( § 206.19(b)), or the line of credit payment option ( § 206.19(c)), or a combination as provided in § 206.25(d), subject to later change in accordance with § 206.26.

(b)Interest rate. A mortgage shall provide for either fixed or adjustable interest rates in accordance with § 206.21.

(c)Shared appreciation. A mortgage may provide for shared appreciation in accordance with § 206.23.

[ 54 FR 24833, June 9, 1989, as amended at 61 FR 36266, July 9, 1996]

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