24 CFR 203.20 - Agreed interest rate.

Regulations last checked for updates: Oct 17, 2024

Title 24 - Housing and Urban Development last revised: Sep 16, 2024

§ 203.20 - Agreed interest rate.

(a) The mortgage shall bear interest at the rate agreed upon by the mortgagee and the mortgagor.

(b) Interest shall be payable in monthly installments on the principal amount of the mortgage outstanding on the due date of each installment.

[36 FR 24508, Dec. 22, 1971, as amended at 49 FR 19457, May 8, 1984]

authority: 12 U.S.C. 1707,1709,1710,1715b,1715z,1715u,and; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)

source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 203.20