OAR 274-045-0070
Interest

(1)

The Director will prescribe interests rates for loans. In prescribing interest rates, the Director will consider the following factors:

(a)

The current value of funds;

(b)

The solvency of the Department’s Loan Program; and

(c)

The rates’ effect on veterans.

(2)

In prescribing interest rates, the Department also may consider factors including, but not limited to the following:

(a)

The projected value of funds;

(b)

Any federal tax law restrictions;

(c)

Actual or projected conventional mortgage rates;

(d)

The availability of funds;

(e)

Actual or projected loan demand;

(f)

The loan purpose; and

(g)

The source(s) of funds.

(3)

The Director periodically may change the prescribed rates of interest for loans to be funded by the Department to reflect reconsideration of, or changes in, factors considered under sections (1) and (2) of this rule, or in consideration of additional factors.

(4)

The Director may prescribe different rates of interest for different loans, depending upon factors including, but not limited to the following:

(a)

The time of an initial loan or commitment to fund a loan;

(b)

The initial rate of interest on a loan;

(c)

The type of loan;

(d)

The status of the borrower;

(e)

The status of the loan security;

(f)

The perceived risk associated with the loan;

(g)

Whether or not the Department agreed to maintain an interest rate commitment within a certain range or for a certain time; and

(h)

Whether or not the applicant abandoned a previous loan application or loan commitment.

(5)

The Department will endeavor to record prescribed interest rates as reasonably as it is practical for the Department to do so, in its Tables and Codes Manual. This publication will be available for viewing at the Oregon Department of Veterans’ Affairs, 700 Summer Street NE, Salem, Oregon, as permitted by the Department, during regular business hours.

Source: Rule 274-045-0070 — Interest, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=274-045-0070.

274‑045‑0001
Definitions for OAR 274-045-0001 to 274-045-0481 274‑045‑0005
Purpose and Objectives 274‑045‑0010
Eligibility Requirements 274‑045‑0015
Authority to Protect the Security 274‑045‑0020
Who May Apply for Loan 274‑045‑0025
Evidence Required to Establish Eligibility 274‑045‑0030
Modification of Application 274‑045‑0035
Cancellation of Application 274‑045‑0040
Security for the Loan 274‑045‑0045
Legal Description of Property Offered as Security 274‑045‑0050
Appraisal of Property 274‑045‑0060
Terms of Loan 274‑045‑0070
Interest 274‑045‑0080
Approval of the Loan 274‑045‑0085
Loan Funding 274‑045‑0090
Grounds for Refusing to Make a Loan 274‑045‑0100
Evidence of Title 274‑045‑0110
Escrow Closing of Loans 274‑045‑0120
Transfer of Ownership 274‑045‑0125
Rental 274‑045‑0130
Modification of Mortgage 274‑045‑0140
Temporary Reduction of Payments 274‑045‑0145
Loan Cancellation Life Insurance 274‑045‑0150
Property Tax Amortization and Escrow Accounting 274‑045‑0160
Partial Release of Security 274‑045‑0170
Confidential Nature of Information Submitted by the Borrower 274‑045‑0180
Confidential Nature of Information Procured by the Director 274‑045‑0190
Disclosure of Information and Fees 274‑045‑0200
Director’s Decisions Control in All Controversies 274‑045‑0205
Review of Loan Determinations and Other Decisions 274‑045‑0220
Fees 274‑045‑0230
Approved Lenders 274‑045‑0240
Loan Requirements 274‑045‑0250
Reservation of Funds and Commitments 274‑045‑0260
Title Insurance 274‑045‑0270
Hazard Insurance 274‑045‑0280
Flood Insurance 274‑045‑0401
Purpose and Objectives 274‑045‑0411
Definitions 274‑045‑0421
Interest Rate 274‑045‑0431
Approval of Veterans’ Home Improvement Loans 274‑045‑0441
Terms and Requirements of Veterans’ Home Improvement Loans 274‑045‑0451
Appraisal of Property 274‑045‑0461
Transfer of Ownership 274‑045‑0471
Taxes, Hazard Insurance and Flood Insurance 274‑045‑0481
Title Insurance
Last Updated

Jun. 8, 2021

Rule 274-045-0070’s source at or​.us