---
kind: "section"
citation: "24 C.F.R. § 291.545"
title: "24"
number: "291.545"
heading: "Financing purchase of the home."
url: "https://uscodex.org/cfr/24/291.545"
---

# §291.545. Financing purchase of the home.

- (a) **Purchase using conventional financing.** If the law enforcement officer, teacher, or firefighter/emergency medical technician uses conventional financing to purchase a home under the GNND Sales Program, the amount of the mortgage may not exceed the discounted sales price of the home.
- (b) **Purchase with FHA-insured mortgage.**
  - (1) A law enforcement officer, teacher, or firefighter/emergency medical technician using an FHA-insured mortgage to finance purchase of the home may finance reasonable and customary closing costs with the FHA-insured mortgage.
  - (2) The amount of the FHA-insured mortgage may not exceed the discounted sales price of the home plus:
    - (i) The closing costs; and
    - (ii) The costs of rehabilitating and/or improving the home, where purchase of the home is being financed with an FHA-insured 203(k) rehabilitation loan (see [24 CFR part 203](/cfr/24/part203.md)).
- (c) **Closing costs and selling broker's commissions.** In no event will HUD pay a buyer's closing costs on the purchase of a property or a selling broker's commission through the GNND Sales Program.

## Notes

### Source

Source: 71 FR 64426, Nov. 1, 2006, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1701 et seq.; 42 U.S.C. 1441, 1441a, 1551a, and 3535(d).

### Source

Source: 56 FR 46956, Sept. 16, 1991, unless otherwise noted.