[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: 24CFR203.21]



[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.  203.21  Amortization provisions.



    The mortgage must contain complete amortization provisions 

satisfactory to the Commissioner, requiring monthly payments by the 

mortgagor not in excess of his reasonable ability to pay as determined 

by the Commissioner. The sum of the principal and interest payments in 

each month shall be substantially the same.