Statute · California Health and Safety Code
Cal. Health & Safety Code § 52510 — Buy-Down Mortgage Plan
Cal. Health & Safety Code § 52510
- Type
- Statute
- Source
- California Health and Safety Code
- Jurisdiction
- California
- Date
- 1982-06-29
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The agency may contract with qualified mortgage lenders with respect to mortgage loans qualified under this part to pay to such lenders, subject to the provisions of Section 52513, a sum of money as consideration for a reduction of the effective interest cost to the purchaser of an…
Citator
Cal. Health & Safety Code § 52510 — Buy-Down Mortgage Plan is in force in the current edition of the Code, and nothing recorded condemns it.
The agency may contract with qualified mortgage lenders with respect to mortgage loans qualified under this part to pay to such lenders, subject to the provisions of Section 52513, a sum of money as consideration for a reduction of the effective interest cost to the purchaser of an owner-occupied housing unit below market interest rates.
The buy-down mortgage program conducted under this part may be applicable to and include mortgage revenue bond financed programs. With respect to mortgage revenue bond financed programs, “market interest rate” means the effective mortgage interest rate to the borrower without the buy-down authorized by this part.