---
kind: "section"
citation: "24 C.F.R. § 248.301"
title: "24"
number: "248.301"
heading: "Initial application."
url: "https://uscodex.org/cfr/24/248.301"
---

# §248.301. Initial application.


A State agency shall make an initial application to the Commissioner which:

- (a) Describes the manner by which the State housing program provides mortgage assistance or subsidy to private mortgagors to provide housing opportunities for low and moderate income families;
- (b) Includes copies of the authorizing legislation, any implementing regulations and any administrative guidance provided to owners;
- (c) Includes a comprehensive description of the terms and conditions under which a private owner may prepay the assisted or subsidized mortgage without the prior consent of the State agency;
- (d) Includes a complete set of pro forma mortgage and/or regulatory documents which evidence an owner's ability to prepay the assisted or subsidized mortgage without the consent of the State agency;
- (e) Includes a list of all properties assisted under the State or local housing program whose owners are eligible to prepay the assisted or subsidized mortgages without the consent of the State agency.

## Notes

### Source

Source: 57 FR 12060, Apr. 8, 1992, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 17151 note, 4101 note, and 4101-4124; 42 U.S.C. 3535(d).