Maximum loan and grant.

CFR · 2024-01-01 · US · Title 7

(a) (1) Transferees who have assumed a section 504 loan and wish to obtain a subsequent section 504 loan are limited to the difference between the unpaid principal balance of the debt assumed and the maximum loan permitted. (2) For a secured loan, the total of all debts on the secured property may not exceed the value of the security, except by the amount of any required appraisal and tax monitoring fees, and the contributions to an escrow account for taxes and insurance. (b) (c)

official document · source cfr-2024 · id 7:§ 3550.112