Skip to content

PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE›Subpart D—Contract Rights and Obligations—Moderate Income Projects

§ 221.755 Premiums first, second, third and operating loss loans.

24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing) · 2026 edition · updated 2026-07-29 · United States

All of the provisions of §§ 207.252 and 207.252a of this chapter, relating to mortgage insurance premiums, apply to mortgages insured under this subpart that provide for interest at the market rate prescribed in § 221.518(a) except that as to mortgages insured under this subpart pursuant to section 238(c) of the Act all mortgage insurance premiums due in accordance with §§ 207.252 and 207.252a shall be calculated on the basis of one percent. The provisions of § 207.252. shall not apply to:

(a) Mortgages that provide for interest during the construction period at the market rate and for interest subsequent to final endorsement at the below market rate prescribed in § 221.518(b); or

(b) Mortgages encumbering a project in which all units are covered by an annual contributions contract issued pursuant to section 10(c) of the Housing Act of 1937.

[36 FR 24587, Dec. 22, 1971, as amended at 42 FR 59675, Nov. 18, 1977]

Get a plain-English answer with a citation back to this text.

Ask AI about this code
▸ Contents — 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
  1. 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance…
  2. PART 207—MULTIFAMILY HOUSING MORTGAGE INSURANCE
  3. ▸ PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVIN…
    Overview
    1. Subpart A—Eligibility Requirements—Low Cost Homes—Savings Clause
    2. Subpart B—Contract Rights and Obligations—Low Cost Homes
    3. Special Provisions Applicable Only to Mortgages Involving Cond…
    4. Subpart C—Eligibility Requirements—Moderate Income Projects
    5. ▸ Subpart D—Contract Rights and Obligations—Moderate Income Proj…
      Overview
      1. § 221.751 Cross-reference.
      2. § 221.753 Termination of mortgage insurance.
      3. § 221.755 Premiums first, second, third and operating loss loa…
      4. § 221.761 Forbearance relief.
      5. § 221.762 Payment of insurance benefits.
      6. § 221.763 Special insurance benefits—forbearance relief cases.
      7. § 221.770 Assignment option.
      8. § 221.775 Option period.
      9. § 221.780 Issuance of debentures.
      10. § 221.785 Date of maturity of debentures.
      11. § 221.790 Debenture interest rate.
      12. § 221.795 Displacement—below market interest rate mortgages.
    6. Subpart E—Servicing Responsibilities—Low Cost Homes

GoCodebook provides public access, search, citation, multilingual explanation, and practical interpretation of legally adopted building regulations. It is not a substitute for the official ICC or California code publications.