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24 CFR 241.560

§ 241.560 Agreed interest rate.

United States · 24 CFR — Housing and Urban Development · Status: effective

Banking, Finance & Insurance
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24 CFR 241.560, § 241.560 Agreed interest rate, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100101
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Full text

(a) The mortgage shall bear interest at the rate agreed upon by the lender and the borrower. (b) Interest shall be payable in monthly installments on the principal amount of the loan outstanding on the due date of each installment.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.