7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.102 — Loan restrictions
7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.102 Loan restrictions. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.102 — Loan restrictions — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
7 CFR §3555.102
§ 3555.102 Loan restrictions. A guarantee will not be issued if loan funds are to be used for:
7 CFR §3555.102(a)
(a) Existing manufactured homes. Purchase of an existing manufactured home, except as provided in § 3555.208(b)(3);
7 CFR §3555.102(b)
(b) Income producing land or buildings. Purchase or improvement of land or buildings that are typically used principally for income-producing purposes;
7 CFR §3555.102(c)
(c) Business or income-producing enterprise. Purchase or the construction of buildings which are largely or in part specifically designed to accommodate a business or income-producing enterprise;
7 CFR §3555.102(d)
(d) Loan discount points. Loan discount points, except as provided in § 3555.101(b)(6)(vi);
7 CFR §3555.102(e)
(e) Refinancing. Refinancing, except as provided in § 3555.101(d);
7 CFR §3555.102(f)
(f) Buydown. Establishing a buydown account;
7 CFR §3555.102(g)
(g) Lease. Payments on a lease; or
7 CFR §3555.102(h)
(h) Seller concessions. Purchasing a home if the seller, or other interested third party, contributes more than 6 percent, unless otherwise provided by the Agency, of the property's sales price toward the purchaser's mortgage financing costs, closing costs, escrow accounts, furniture or other giveaways.
Operationalizing 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.102 — Loan restrictions
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Source of record: https://claudeforcompliance.com/regs/usda-7cfr-3555-102/
· register usda-7cfr-3555-102 · Claude for Compliance. Free to read and download;
see regulatory updates and methodology.