24 CFR 232.585

§ 232.585 Prepayment privilege and prepayment charge.

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

Cite this

Citation: 24 CFR 232.585, § 232.585 Prepayment privilege and prepayment charge, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99993
Permanent ID: ys:prov:99993@1
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Full text

The security instrument shall contain a provision permitting prepayment of the loan in whole or in part upon any interest payment date after giving to the lender 30 days' advance written notice and it may contain a provision, with the approval of the Commissioner, for a reasonable charge in the event of prepayment.

Legislative history

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