Section 67-45.005 - Terms and Conditions of Loans(1) All Down Payment Assistance Loans must be in compliance with the Act and shall adhere to the terms and conditions outlined in Rule Chapter 67-50, F.A.C.(2) The Loan shall not exceed 30 years or the term of the First Mortgage of principal is deferred until the expiration of the term of the First Mortgage, or in the event of sale, transfer, refinancing or failure to occupy the Home as the primary residence as outlined in Rule 67-25.014, F.A.C., in which case the Loan is due and payable in full at that time.Fla. Admin. Code Ann. R. 67-45.005
Rulemaking Authority 420.507(12), (23) FS. Law Implemented 420.507(23), 420.5088 FS.
New 8-7-95, Formerly 9I-45.005, Amended 12-7-03.New 8-7-95, Formerly 9I-45.005, Amended 12-7-03.