Iowa Admin. Code r. 265-2.4
Current through Register Vol. 47, No. 11, December 11, 2024
The loan to value ratio, maximum loan amount, amortization period, repayment, prepayment, assumption, and assignment terms of a permanent mortgage loan shall be determined by the authority. The terms of a temporary loan, repayment thereof and of partial payment on principal thereof and partial release of security therefor upon the sale of individual housing units (when appropriate) shall also be determined by the authority. All loan conditions shall be stated in a certificate of approval issued by or on behalf of the authority.
This rule is intended to implement Iowa Code sections 16.5 and 16.5C.
Iowa Admin. Code r. 265-2.4