24 CFR 203.21

§ 203.21 Amortization provisions.

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

Cite this

Citation: 24 CFR 203.21, § 203.21 Amortization provisions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99472
Permanent ID: ys:prov:99472@1
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Full text

The mortgage must contain complete amortization provisions satisfactory to the Commissioner, requiring monthly payments by the mortgagor not in excess of his reasonable ability to pay as determined by the Commissioner. The sum of the principal and interest payments in each month shall be substantially the same.

Legislative history

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