OAR 274-020-0342
Interest Rate on Assumptions by Eligible Veterans


(1)

Effective February 3, 1982, a veteran eligible for a loan under ORS 407.075 (Purpose) to 407.595 (Loans not subject to execution or assignment) and Article XI-A of the Oregon Constitution who assumes a loan, previously made by the Director, assumes at one of the following rates:

(a)

If the previous loan was a fixed interest rate loan made to a veteran before May 27, 1971, the assumption will be at the fixed rate;

(b)

If the previous loan was a variable rate loan made to a veteran on or after May 27, 1971, the assumption will be at the rate of the previous loan, and will remain variable, with the limitation that the rate will not decrease and will not increase more than an additional one percent or exceed the current veteran’s rate at the time of transfer;

(c)

If the previous loan had been transferred to one other than the original borrower, the surviving spouse, unremarried former spouse, surviving child or stepchild of the original borrower, or other eligible veteran assuming pursuant to ORS 407.305 (Assumption of previous loan by eligible veteran), the assumption rate to the veteran will be at the rate of the transferred loan, and will not become variable until a subsequent transfer.

(2)

Effective September 28, 1987, a veteran eligible for a loan under ORS 407.075 (Purpose) to 407.595 (Loans not subject to execution or assignment) and Article XI-A of the Oregon Constitution who assumes a loan, previously made by the Director, assumes at 10.5 percent variable or at the existing rate on the loan, whichever is higher.

Source: Rule 274-020-0342 — Interest Rate on Assumptions by Eligible Veterans, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=274-020-0342.

274‑020‑0200
Definitions for OAR 274-020-0200–274-020-0450
274‑020‑0241
Authority to Protect the Security
274‑020‑0260
Who May Apply for Loan
274‑020‑0265
Evidence Required to Establish Eligibility
274‑020‑0266
Eligibility to Apply
274‑020‑0270
Forms and Signature
274‑020‑0280
Number of Applications Permitted
274‑020‑0285
Additional Loans
274‑020‑0290
Second Loans
274‑020‑0295
Modification of Application
274‑020‑0300
Cancellation of Application
274‑020‑0305
Filing Period
274‑020‑0310
Evidence of Acquisition
274‑020‑0315
Evidence of Construction
274‑020‑0322
Requirements for Farm Applicants
274‑020‑0325
Security for the Loan
274‑020‑0330
Legal Description of Property Offered as Security
274‑020‑0335
Appraisal of Property
274‑020‑0340
Terms of Loan
274‑020‑0341
Interest Rates for Loans
274‑020‑0342
Interest Rate on Assumptions by Eligible Veterans
274‑020‑0343
Interest Rates on Loans Secured by Property Transferred to Non-Veterans
274‑020‑0344
Fixed Interest Rate
274‑020‑0345
Approval of the Loan
274‑020‑0348
Grounds for Refusing to Make a Loan
274‑020‑0349
Loan Funding
274‑020‑0350
Evidence of Title
274‑020‑0355
Escrow Closing of Loans
274‑020‑0360
Disbursement of Loan Funds
274‑020‑0375
Lost, Stolen, or Destroyed Warrants or Checks
274‑020‑0380
Transfer of Ownership
274‑020‑0381
Rental
274‑020‑0382
Interest Rate Payable When Property Transferred Back to Original Borrower
274‑020‑0385
Modification of Mortgage
274‑020‑0386
Temporary Reduction of Payments
274‑020‑0387
Reamortization of Loans
274‑020‑0388
Property Tax Amortization and Escrow Accounting
274‑020‑0391
Discount for Early Payoff
274‑020‑0395
Partial Release of Security
274‑020‑0405
Confidential Nature of Information Submitted by the Borrower
274‑020‑0410
Confidential Nature of Information Procured by the Director
274‑020‑0411
Disclosure of Information and Fees
274‑020‑0420
Director’s Decisions Control in All Controversies
274‑020‑0421
Review of Loan Determinations and Other Decisions
274‑020‑0430
Effect
274‑020‑0440
Fees
274‑020‑0445
Assumption of Loan by Eligible Veteran
274‑020‑0450
Due on Sale
Last Updated

Jun. 8, 2021

Rule 274-020-0342’s source at or​.us