Loan Guaranty: Limitation on Discount Points Financed in Connection with Interest Rate Reduction Refinancing Loans
VA · va-home-loan · Published 1996-02-28 · Effective 1996-02-28 · 61 FR 7414
Document
Document number
96-4498
Federal Register citation
61 FR 7414
CFR reference
38 CFR 36
Type
Rule
Action
Interim final rule.
Category
va-home-loan
Agency
US Department of Veterans Affairs
Publication date
1996-02-28
Effective date
1996-02-28
Abstract
This document amends VA's loan guaranty regulations concerning points allowed to be included in VA-guaranteed Interest Rate Reduction Refinancing Loans by limiting to two the amount of points that may be included in the loan. This action is necessary to help ensure that veterans are not overcharged with excessive points and to protect the interest of the Government against overinflated loans.