1. Regulations
  2. title 24
  3. chapter II
  4. part 241
  5. subpart C
  6. subjgrp 200
  7. § 241.560

View all text of Subjgrp 200 [§ 241.530a - § 241.586]

§ 241.560 - Agreed interest rate.

(a) The mortgage shall bear interest at the rate agreed upon by the lender and the borrower.

(b) Interest shall be payable in monthly installments on the principal amount of the loan outstanding on the due date of each installment.

[45 FR 57983, Aug. 29, 1980, as amended at 49 FR 19459, May 8, 1984]

AUTHORITY: 12 U.S.C. 1715b, 1715z-6, and 1735d; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24653, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 241.560