Or. Admin. Code § 274-020-0360 - Disbursement of Loan Funds

(1) When a veteran is purchasing or refinancing, the loan funds may be disbursed when the loan is closed.
(2) When construction is involved and the property complies with the definition of a home, the loan funds may be disbursed after the loan is closed, but disbursement is limited to the maximum percentage permitted by statute of the net appraised value.

Notes

Or. Admin. Code § 274-020-0360
DVA 22, f. 11-15-57, ef. 11-14-57; DVA 39, f. 5-27-71, ef. 6-25-71; DVA 2-1978, f. & ef. 12-1-78; DVA 1-2020, temporary amend filed 01/21/2020, effective 01/22/2020 through 07/10/2020; DVA 5-2020, amend filed 07/10/2020, effective 7/11/2020

Statutory/Other Authority: ORS 406.005 & 407.115

Statutes/Other Implemented: ORS 407.075 to 407.385; Oregon Constitution Article XI-A, Section 3

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