---
kind: "section"
citation: "24 C.F.R. § 982.634"
title: "24"
number: "982.634"
heading: "Homeownership option: Maximum term of homeownership assistance."
url: "https://uscodex.org/cfr/24/982.634"
---

# §982.634. Homeownership option: Maximum term of homeownership assistance.

- (a) **Maximum term of assistance.** Except in the case of a family that qualifies as an elderly or disabled family (see [paragraph (c)](#c) of this section), the family members described in [paragraph (b)](#b) of this section shall not receive homeownership assistance for more than:
  - (1) Fifteen years, if the initial mortgage incurred to finance purchase of the home has a term of 20 years or longer; or
  - (2) **Ten years, in all other cases.**
- (b) **Applicability of maximum term.** The maximum term described in [paragraph (a)](#a) of this section applies to any member of the family who:
  - (1) Has an ownership interest in the unit during the time that homeownership payments are made; or
  - (2) Is the spouse of any member of the household who has an ownership interest in the unit during the time homeownership payments are made.
- (c) **Exception for elderly and disabled families.**
  - (1) As noted in [paragraph (a)](#a) of this section, the maximum term of assistance does not apply to elderly and disabled families.
  - (2) In the case of an elderly family, the exception only applies if the family qualifies as an elderly family at the start of homeownership assistance. In the case of a disabled family, the exception applies if at any time during receipt of homeownership assistance the family qualifies as a disabled family.
  - (3) If, during the course of homeownership assistance, the family ceases to qualify as a disabled or elderly family, the maximum term becomes applicable from the date homeownership assistance commenced. However, such a family must be provided at least 6 months of homeownership assistance after the maximum term becomes applicable (provided the family is otherwise eligible to receive homeownership assistance in accordance with this part).
- (d) **Assistance for different homes or PHAs.** If the family has received such assistance for different homes, or from different PHAs, the total of such assistance terms is subject to the maximum term described in [paragraph (a)](#a) of this section.

## Notes

### Source

Source: 65 FR 55163, Sept. 12, 2000, unless otherwise noted.

### Source

Source: 63 FR 23865, Apr. 30, 1998, unless otherwise noted.

### Authority

Authority: 42 U.S.C. 1437f and 3535(d).

### Source

Source: 59 FR 36682, July 18, 1994, unless otherwise noted.