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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
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SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
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Part 221 - Low Cost and Moderate Income Mortgage Insurance - Savings Clause |
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Subpart A - Eligibility Requirements - Low Cost Homes - Savings Clause |
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Insurance Under 221(d)(2) |
§ 221.54 - Inclusion of closing costs and expenses in cash payment.
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The mortgagor's required minimum investment may include amounts covering settlement costs, initial payments for taxes, hazard insurance premiums, mortgage insurance premiums, and other prepaid expenses as approved by the Commissioner.