Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
Part 232 - Mortgage Insurance for Nursing Homes, Intermediate Care Facilities, Board and Care Homes, and Assisted Living Facilities |
Subpart E - Insurance of Mortgages Covering Existing Projects |
§ 232.901 - Mortgages covering existing projects are eligible for insurance.
Latest version.
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§ 232.901 Mortgages covering existing projects are eligible for insurance.
A mortgage executed in connection with the purchase or refinancing of an existing project without substantial rehabilitation may be insured under this subpart pursuant to section 223(f) of the Act. A mortgage insured pursuant to this subpart shall meet all other requirements of this part except as expressly modified by this subpart.
[59 FR 61228, Nov. 29, 1994]