10 Pa. Code § 31.1 - Maximum principal amount of loans over 80% of fair market value
(a) The principal of the obligation on loans
in excess of 80% of the fair market value of one family residential property to
be encumbered shall not exceed $40,000 provided, however, that there shall be
no amount limitation if at least the top 20% of such loan is insured or
guaranteed by a mortgage insurance company which has been approved by the
Department and licensed by the Insurance Department of the
Commonwealth.
(b) Such loans shall
not exceed 90% of fair market value.
Notes
The provisions of this section cited in 10 Pa. Code § 31.2 (relating to loans in excess of statutory authorization on one-family residential properties).
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