{"data":{"id":"us/12-cfr-appendix-a-to-part-628","jurisdiction":"us","citation":"12 CFR Appendix A to Part 628","heading":"Appendix A to Part 628—Loan-to-Value Limits for High Volatility Commercial Real Estate Exposures","body":"Table A sets forth the loan-to-value limits specified in paragraph (2)(iv)(A) of the definition of high volatility commercial real estate exposure in § 628.2.\nTable A: Loan-to-Value Limits for High Volatility Commercial Real Estate Exposures\nLoan category Loan-to-value limit (percent)\nRaw Land 65\nLand development 75\nConstruction:\nCommercial, multifamily,1 and other non-residential 80\n1- to 4-family residential 85\nImproved property 85\nOwner-occupied 1- to 4-family and home equity 2 85\n1 Multifamily construction includes condominiums and cooperatives.\n2 If a loan is covered by private mortgage insurance, the loan-to-value (LTV) may exceed 85 percent to the extent that the loan amount in excess of 85 percent is covered by the insurance. If a loan is guaranteed by Federal, State, or other governmental agencies, the LTV limit is 97 percent.\nThe loan-to-value limits should be applied to the underlying property that collateralizes the loan. For loans that fund multiple phases of the same real estate project (e.g., a loan for both land development and construction of an office building), the appropriate loan-to-value limit is the limit applicable to the final phase of the project funded by the loan; however, loan disbursements should not exceed actual development or construction outlays. In situations where a loan is fully cross-collateralized by two or more properties or is secured by a collateral pool of two or more properties, the appropriate maximum loan amount under loan-to-value limits is the sum of the value of each property, less senior liens, multiplied by the appropriate loan-to-value limit for each property. To ensure that collateral margins remain within the limits, System institutions should redetermine conformity whenever collateral substitutions are made to the collateral pool.","path":["Title 12—Banks and Banking","CHAPTER VI—FARM CREDIT ADMINISTRATION","SUBCHAPTER B—FARM CREDIT SYSTEM","PART 628—CAPITAL ADEQUACY OF SYSTEM INSTITUTIONS"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"a6b8925fd5a99df59452039490a7206c2245daab1fb5adc9e9c1fbe33c796e38","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-628.301","next":"us/12-cfr-630.1"},"notice":"GroundRules: Original legal text. Not legal advice."}