Indiana § 36-7-16-7 Loans; no application fee; closing costs and charges

Indiana Statutes

§ 36-7-16-7 — Loans; no application fee; closing costs and charges

Indiana·Title 36 LOCAL GOVERNMENT·Art. 7 PLANNING AND DEVELOPMENT·Ch. 16 Home Rehabilitation Loans

The agency may not charge an application fee in connection with the loans authorized by this chapter. However, if an application is approved, the agency shall include in the principal amount of the loan an amount sufficient to cover closing costs and the cost of:

(1)bringing the title to date;

(2)obtaining title insurance or a title opinion from counsel;

(3)appraisal; and

(4)any necessary permits. [Pre-Local Government Recodification Citation: 18-7-7.5-7.] As added by Acts 1981, P.L.309, SEC.35.

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The agency may not charge an application fee
in connection with the loans authorized by this chapter. However, if an
application is approved, the agency shall include in the principal
amount of the loan an amount sufficient to cover closing costs and the
cost of:
(1) bringing the title to date;
(2) obtaining title insurance or a title opinion from counsel;
(3) appraisal; and
(4) any necessary permits.
[Pre-Local Government Recodification Citation:
18-7-7.5-7.]
As added by Acts 1981, P.L.309, SEC.35.

Indiana § 36-7-16-7 (Loans; no application fee; closing costs and charges) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.