Sec. 2306.221. HOUSING DEVELOPMENT LOANS. To finance the purchase, construction, remodeling, improvement, or rehabilitation of housing developments for residential housing designed and planned for individuals and families of low and very low income and families of moderate income, the department, on the terms and conditions stated in this chapter, may:
(1) make, commit to make, and participate in the making of mortgage loans, including federally insured loans to housing sponsors; and
(2) make temporary loans and advances in anticipation of permanent mortgage loans.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter J. Housing Finance Division: Loan Terms and Conditions
Section 2306.221. Housing Development Loans
Section 2306.222. Contracts and Agreements Regarding Housing Developments
Section 2306.223. Criteria for Financing Housing Development of Housing Sponsor
Section 2306.224. Loan Terms and Conditions
Section 2306.225. Ratio of Loan to Development Cost; Amortization Period
Section 2306.226. Interest Rates
Section 2306.227. Prepayment of Mortgage Loans
Section 2306.229. Documents Supporting Mortgage Loans
Section 2306.230. Agreements Regarding Certain Limitations on Housing Sponsors
Section 2306.231. Loan Conditions Relating to Department Powers