[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: 24CFR203.33]



[Page 163]

 

                 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.  203.33  Relationship of income to mortgage payments.



    (a) Adequacy of mortgagor's gross income. A mortgagor must 

establish, to the satisfaction of the Secretary, that his or her gross 

income is and will be adequate to meet (1) the periodic payments 

required by the mortgage submitted for insurance and (2) other long-term 

obligations.

    (b) Determinations of adequacy of mortgagor income under this 

section shall be made in a uniform manner without regard to race, color, 

religion, sex, national origin, familial status, handicap, marital 

status, source of income of the mortgagor or location of the property.



[37 FR 16390, Aug. 12, 1972, as amended at 54 FR 38649, Sept. 20, 1989; 

59 FR 59648, Nov. 18, 1994]