California § 52516. 52516. (Added by Stats. 1982, Ch. 320, Sec. 12.)

California Statutes

§ 52516. — 52516. (Added by Stats. 1982, Ch. 320, Sec. 12.)

California § 52516.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 31.DIVISION 31. HOUSING AND HOME FINANCE

Part 6.PART 6. CALIFORNIA FIRST-TIME HOME BUYERS

Ch. 2.CHAPTER 2. Buy-Down Mortgage Plan

This text of California § 52516. (52516. (Added by Stats. 1982, Ch. 320, Sec. 12.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Health and Safety Code - HSC Code § 52516. (2026).

Text

The agency shall establish by regulation, adopted by the policy committee, standards for the eligibility of purchasers of housing subject to this part. Such individuals shall be first-time home buyers. Mortgages pursuant to this part cannot be used to acquire or replace an existing mortgage, except a mortgage which is security for a construction loan or a bridge loan or similar temporary initial financing. The purchaser shall be a resident of California. The qualified mortgage lender shall certify to the agency, in good faith, after prudent qualification of the purchaser that the purchaser is qualified under the provisions of this part. Section 51067 is not applicable to mortgage loans under this part.

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The agency shall establish by regulation, adopted by the policy committee, standards for the eligibility of purchasers of housing subject to this part. Such individuals shall be first-time home buyers. Mortgages pursuant to this part cannot be used to acquire or replace an existing mortgage, except a mortgage which is security for a construction loan or a bridge loan or similar temporary initial financing. The purchaser shall be a resident of California. The qualified mortgage lender shall certify to the agency, in good faith, after prudent qualification of the purchaser that the purchaser is qualified under the provisions of this part. Section 51067 is not applicable to mortgage loans under this part.

Legislative History

Added by Stats. 1982, Ch. 320, Sec. 12. Effective June 29, 1982.

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California § 52516., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/HSC/52516..