[Code of Federal Regulations]

[Title 24, Volume 2]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR203.20]



[Page 158]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 

        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents

 

     Subpart A_Eligibility Requirements and Underwriting Procedures

 

Sec.  203.20  Agreed interest rate.



    (a) The mortgage shall bear interest at the rate agreed upon by the 

mortgagee and the mortgagor.

    (b) Interest shall be payable in monthly installments on the 

principal amount of the mortgage outstanding on the due date of each 

installment.



[36 FR 24508, Dec. 22, 1971, as amended at 49 FR 19457, May 8, 1984]