Cal. Code Regs. tit. 25 § 8048

Current through Register 2024 Notice Reg. No. 50, December 13, 2024

Section 8048 - Maximum Loan Amounts

(a) The maximum amount of a deferred payment loan to a borrower shall be as follows:

(1) $20,000; or

(2) $30,000, when the rehabilitation involves one or more room additions, except that the total cost of room additions shall not exceed $10,000.

(b) Deferred payment loans shall be limited to the amount necessary to cover eligible costs which cannot otherwise be financed by other funds unless the local entity determines that:

the payment on, or costs of administration and processing of, a loan from other sources would cause the borrower to exceed the ability to afford his or her housing costs.

(c) Upon request by the local entity to the department, the maximum loan amounts established pursuant to subdivision (a) of this section shall be increased if the department determines that all of the following circumstances exist:

(1) the estimated rehabilitation costs are consistent with the lowest reasonable costs of similar projects in the same area meeting minimum rehabilitation standards and local building and land use requirements;

(2) an increase is necessary to correct health and safety defects or to meet handicapped accessibility standards; and

(3) the local entity has documented that no other funds are available for the rehabilitation work.

Cal. Code Regs. Tit. 25, § 8048

1. New section filed 11-30-89 as an emergency; operative 11-30-89 (Register 89, No. 49). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 3-30-90.
2. New section refiled 3-26-90 as an emergency; operative 3-30-90 (Register 90, No. 16). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 7-30-90.
3. New section filed 7-26-90 as an emergency; operative 7-26-90 (Register 90, No. 38). A Certificate of Compliance must be transmitted to OAL by 11-23-90 or emergency language will be repealed by operation of law on the following day.
4. Amendment of subsection (a) filed 8-27-90 as an emergency; operative 8-27-90 (Register 90, No. 42). A Certificate of Compliance must be transmitted to OAL by 12-26-90 or emergency language will be repealed by operation of law on the following day.
5. New section refiled 11-16-90 as an emergency; operative 11-16-90 (Register 90, No. 51). A Certificate of Compliance must be transmitted to OAL by 3-18-91 or emergency language will be repealed by operation of law on the following day.
6. Readoption of 8-27-90 order filed 12-21-90 as an emergency; operative 12-21-90 (Register 91, No. 7). A Certificate of Compliance must be transmitted to OAL by 4-22-91 or emergency language will be repealed by operation of law on the following day.
7. Certificate of Compliance as to 11-30-89 order, readopted and operative on 3-30-90, 7-26-90 and 11-16-90, including amendment of subsection (b) transmitted to OAL 11-30-90 and filed 12-31-90 (Register 91, No. 7).

Note: Authority cited: Section 50668.5(g), Health and Safety Code. Reference: Sections 50010(b)(3), 50662, 50668.5(a) and 50668.5(b), Health and Safety Code.