---
kind: "section"
citation: "7 C.F.R. § 3550.64"
title: "7"
number: "3550.64"
heading: "Down payment."
url: "https://uscodex.org/cfr/7/3550.64"
---

# §3550.64. Down payment.


Elderly families must use any net family assets in excess of $20,000 towards a down payment on the property. Non-elderly families must use net family assets in excess of $15,000 towards a down payment on the property. Applicants may contribute assets in addition to the required down payment to further reduce the amount to be financed.


## Notes

### Amendments

[73 FR 49593, Aug. 22, 2008]

### Authority

Authority: 5 U.S.C. 301; 42 U.S.C. 1480.

### Source

Source: 61 FR 59779, Nov. 22, 1996, unless otherwise noted.

### Amendments

[73 FR 49593, Aug. 22, 2008]