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