Transfer of security to and assumption of debt by eligible applicants.

CFR · 2024-01-01 · US · Title 7

(a) (1) The transferee meets all loan and security requirements in part 764 of this chapter for the type of loan being assumed; and (2) The outstanding loan balance (principal and interest) does not exceed the maximum loan limit for the type of loan as contained in § 761.8 of this chapter. (b) (c) (d) (1) The outstanding balance of the transferor's loan; or (2) The market value of the security, less prior liens and authorized costs, if the outstanding loan balance exceeds the market value of the property. (e)

official document · source cfr-2024 · id 7:§ 765.403