GroundRules
24 CFR 241.1065: Maximum loan amount—loans insured in connection with a plan of action under subpart C of part 248 of this chapter.
Where this section sits in the code
- Title 24—Housing and Urban Development
- Subtitle B—Regulations Relating to Housing and Urban Development
- CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
- SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES
- PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
- Subpart E—Insurance for Equity Loans and Acquisition Loans—Eligibility Requirements
The amount of the equity loan shall not exceed ninety percent of the owner's equity in the project, as determined by the Commissioner. Notwithstanding the above, the equity loan shall not exceed an amount which, when added to the existing indebtedness on the property, can be supported by 90 percent of the projected net operating income of the project, as determined by the Commissioner. The Commissioner, in making a determination regarding the amount of an equity loan and sums available to service said loan, shall take into account the fact that the project's income may increase within the limits established by § 248.233(d) of this chapter.
Collected 2026-08-27T02:24:55Z. Source file · JSON