[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

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

[CITE: 24CFR906.29]



[Page 360]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 906_PUBLIC HOUSING HOMEOWNERSHIP PROGRAMS--Table of Contents

 

                    Subpart D_Program Administration

 

Sec.  906.29  Below-Market sales and financing.



    A homeownership plan may provide for below-market purchase prices or 

below-market financing to enable below-market purchases, or a 

combination of the two. Discounted purchase prices may be determined on 

a unit-by-unit basis, based on the particular purchaser's ability to 

pay, or may be determined by any other fair and reasonable method (e.g., 

uniform prices for a group of comparable dwellings, within a range of 

affordability by potential purchases). Below-market financing may 

include any lawful type of public or private financing, including but 

not limited to purchase-money mortgages, non-cash second mortgages, 

promissory notes, guarantees of mortgage loans from other lenders, 

shared equity, or lease-purchase arrangements.