24 CFR 203.20 - Agreed interest rate.

Regulations last checked for updates: Mar 13, 2025

Title 24 - Housing and Urban Development last revised: Mar 03, 2025

§ 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