Statute · California Health and Safety Code
Cal. Health & Safety Code § 50058.5 — Definitions
Cal. Health & Safety Code § 50058.5
- Type
- Statute
- Source
- California Health and Safety Code
- Jurisdiction
- California
- Date
- 1982-06-29
- Current through
- Nov 2, 2026 (California Legislative Counsel)
“Buy-down mortgage plan” is a program by which the effective interest cost to the purchaser of a real property is reduced below market rates through supplemental payments by the agency to a qualified mortgage lender in return for which the agency shall obtain from the purchaser an…
Citator
Cal. Health & Safety Code § 50058.5 — Definitions is in force in the current edition of the Code, and nothing recorded condemns it.
“Buy-down mortgage plan” is a program by which the effective interest cost to the purchaser of a real property is reduced below market rates through supplemental payments by the agency to a qualified mortgage lender in return for which the agency shall obtain from the purchaser an interest-bearing note secured by a subordinated mortgage on the property which is purchased.