---
kind: "section"
citation: "12 U.S.C. § 1701l"
title: "12"
title_heading: "Banks and Banking"
number: "1701l"
heading: "Limitation on interest rates of insured mortgages; terms of sales"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/1701l"
units:
  - "Chapter 13 — National Housing"
---

# §1701l. Limitation on interest rates of insured mortgages; terms of sales


It is the intent of Congress that no sale of a dwelling on which a [mortgage](/usc/12/1707.md?p=a) is insured under the National Housing Act, as amended [[12 U.S.C. 1701](/usc/12/1701.md) et seq.], shall be financed, while such [mortgage](/usc/12/1707.md?p=a) is so insured, at an interest rate higher than that prescribed by the [Secretary](/usc/12/1715z–22a.md?p=4) of Housing and Urban Development. It is the further intent of Congress that no such sale shall be made, while such [mortgage](/usc/12/1707.md?p=a) is so insured, on terms less favorable to the purchaser as to amortization, retirement, foreclosure, or forfeiture than those contained in such [mortgage](/usc/12/1707.md?p=a).


## Source credit

(Apr. 20, 1950, ch. 94, title V, § 508, 64 Stat. 81; Pub. L. 90–19, § 8(e), May 25, 1967, 81 Stat. 22.)

## Notes

### Editorial Notes

### References in Text

The National Housing Act, as amended, referred to in text, is act June 27, 1934, ch. 847, 48 Stat. 1246, which is classified principally to this chapter (§ 1701 et seq.). For complete classification of this Act to the Code, see section 1701 of this title and Tables.

### Codification

Section was enacted as part of the Housing Act of 1950, and not as part of the National Housing Act which comprises this chapter.

### Amendments

1967—Pub. L. 90–19 substituted “Secretary of Housing and Urban Development” for “Federal Housing Commissioner”.