---
kind: "section"
citation: "24 C.F.R. § 232.585"
title: "24"
number: "232.585"
heading: "Prepayment privilege and prepayment charge."
url: "https://uscodex.org/cfr/24/232.585"
---

# §232.585. Prepayment privilege and prepayment charge.


The security instrument shall contain a provision permitting prepayment of the loan in whole or in part upon any interest payment date after giving to the lender 30 days' advance written notice and it may contain a provision, with the approval of the Commissioner, for a reasonable charge in the event of prepayment.


## Notes

### Source

Source: 39 FR 28966, Aug. 12, 1974, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1715b, 1715w, 1735d, and 1735f-19; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24618, Dec. 22, 1971, unless otherwise noted.