Nev. Admin. Code § 319.564 - "Deferred mortgage loan" defined

Current through March 28, 2022

"Deferred mortgage loan" means a loan, the repayment of which is deferred, that is:

1. Made to an eligible applicant for the payment of the down payment or the closing costs, or both, for an eligible residence;
2. Evidenced by a deferred loan agreement; and
3. Secured by a second deed of trust.


Nev. Admin. Code § 319.564
Added to NAC by Housing Div. by R136-03, eff. 11-26-2003

NRS 319.140, 319.145, 319.210

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