---
kind: "section"
citation: "38 C.F.R. § 36.4255"
title: "38"
number: "36.4255"
heading: "Loans for the acquisition of a lot."
url: "https://uscodex.org/cfr/38/36.4255"
---

# §36.4255. Loans for the acquisition of a lot.

- (a) A loan to finance all or part of the cost of acquisition by the veteran of a lot on which to place a manufactured home owned by the veteran shall be eligible for guaranty, Provided, That:
  - (1) The veteran will acquire title to such lot that conforms to the requirements of [§ 36.4253(a)](/cfr/38/36.4253.md?p=a),
  - (2) The loan is secured as required by [§ 36.4253(d)](/cfr/38/36.4253.md?p=d),
  - (3) The lot is determined by the Secretary to be an acceptable manufactured homesite pursuant to [§ 36.4208](/cfr/38/36.4208.md),
  - (4) The portion of the loan allocated to acquisition of the lot does not exceed the reasonable value of the lot as determined by the Secretary,
  - (5) The loan conforms otherwise to the requirements of the [§ 36.4200](/cfr/38/36.4200.md) series.
- (b) The cost of lot acquisition which will not be paid from the proceeds of the loan must be paid by the veteran in cash from his or her own resources.
- (c) **For the purpose of this section, acquisition of a manufactured home lot includes—**
  - (1) The refinancing of the balance owed by the veteran as purchaser under an existing real estate installment contract, and
  - (2) The refinancing of existing mortgage loans or other liens which are secured of record on a manufactured home lot owned by the veteran.

## Notes

### Amendments

[40 FR 13215, Mar. 25, 1975, as amended at 48 FR 40231, Sept. 6, 1983]

### Source

Source: Sections 36.4201 through 36.4287 appear at 36 FR 1253, Jan. 27, 1971, unless otherwise noted.

### Authority

Authority: 38 U.S.C. 501 and 3720.

### Amendments

[40 FR 13215, Mar. 25, 1975, as amended at 48 FR 40231, Sept. 6, 1983]