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Federal regulations · Through 2026-08-25 · Newer source version available

24 CFR 206.17: Eligible mortgages: general.

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Where this section sits in the code
  1. Title 24—Housing and Urban Development
  2. Subtitle B—Regulations Relating to Housing and Urban Development
  3. CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
  4. SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES
  5. PART 206—HOME EQUITY CONVERSION MORTGAGE INSURANCE
  6. Subpart B—Eligibility; Endorsement

(a) [Reserved]

(b) Interest rate and payment options. A HECM shall provide for either fixed or adjustable interest rates in accordance with § 206.21.

(1) Fixed interest rate mortgages shall use the Single Lump Sum payment option (§ 206.19(e)).

(2) Adjustable interest rate mortgages shall initially provide for the term (§ 206.19(a)), the tenure (§ 206.19(b)), the line of credit (§ 206.19(c)), or a modified term or modified tenure (§ 206.19(d)) payment option, subject to a later change in accordance with § 206.26.

(c) Shared appreciation. A mortgage may provide for shared appreciation in accordance with § 206.23.

Collected 2026-08-27T02:24:55Z. Source file · JSON

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