---
kind: "section"
citation: "24 C.F.R. § 206.13"
title: "24"
number: "206.13"
heading: "Disclosure of available HECM program options."
url: "https://uscodex.org/cfr/24/206.13"
---

# §206.13. Disclosure of available HECM program options.


At the time of initial contact, the mortgagee shall inform the prospective HECM borrower, in a manner acceptable to the Commissioner, of all products, features, and options of the HECM program that FHA will insure under this part, including: fixed interest rate mortgages with the Single Lump Sum payment option; adjustable interest rate mortgages with tenure, term, and line of credit disbursement options, or a combination of these; any other FHA insurable disbursement options; and initial mortgage insurance premium options, and how those affect the availability of other mortgage and disbursement options.


## Notes

### Authority

Authority: 12 U.S.C. 1715b, 1715z-20; 42 U.S.C. 3535(d)

### Source

Source: 82 FR 7117, Jan. 19, 2017, unless otherwise noted.