Sec. 2306.225. RATIO OF LOAN TO DEVELOPMENT COST; AMORTIZATION PERIOD. (a) Except as provided by Subsection (b), the ratio of loan to total housing development cost and the amortization period of a loan insured or guaranteed by the federal government is governed by the federal government mortgage insurance commitment or federal guarantee for each housing development.
(b) The amortization period for a loan may not exceed 40 years.
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