CFR > Title 24 - Housing and Urban Development > SUBTITLE B—Regulations Relating to Housing and Urban Development > CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (parts 200 to 291) > SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES (parts 201 to 266) > PART 206—HOME EQUITY CONVERSION MORTGAGE INSURANCE > SUBPART B—Eligibility; Endorsement (§206.9 to §206.53) > 206.17—General.

206.17—General.

(a) Payment options. A mortgage shall initially provide for the tenure payment option ( § 206.19(a) ), the term payment option ( § 206.19(b) ), or the line of credit payment option ( § 206.19(c) ), or a combination as provided in § 206.25(d), subject to later change in accordance with § 206.26.
(b) Interest rate. A mortgage shall provide for either fixed or adjustable interest rates in accordance with § 206.21.
(c) Shared appreciation. A mortgage may provide for shared appreciation in accordance with § 206.23.

Code of Federal Regulations

[54 FR 24833, June 9, 1989, as amended at 61 FR 36266, July 9, 1996]