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Title 24 → Subtitle B → Chapter II → Subchapter B → Part 203 → Subpart A → §203.20 |
Title 24: Housing and Urban Development
PART 203—SINGLE FAMILY MORTGAGE INSURANCE
Subpart A—Eligibility Requirements and Underwriting Procedures
§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]