1. Regulations
  2. title 24
  3. chapter II
  4. part 232
  5. subpart C
  6. subjgrp 176
  7. § 232.560

View all text of Subjgrp 176 [§ 232.525 - § 232.586]

§ 232.560 - Interest rate.

(a) The loan shall bear interest at the rate agreed upon by the lender and the borrower.

(b) Interest shall be payable in monthly installments on the principal amount of the loan outstanding on the due date of each installment.

[39 FR 28966, Aug. 12, 1974, as amended at 53 FR 3366, Feb. 5, 1988; 53 FR 8885, Mar. 18, 1988]

AUTHORITY: 12 U.S.C. 1715b, 1715w, 1735d, and 1735f-19; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24618, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 232.560