Oregon Administrative Rules
Chapter 274 - DEPARTMENT OF VETERANS' AFFAIRS
Division 20 - VETERANS' LOANS
Section 274-020-0360 - Disbursement of Loan Funds
Universal Citation: OR Admin Rules 274-020-0360
Current through Register Vol. 63, No. 3, March 1, 2024
(1) When a veteran is purchasing or refinancing, the loan funds may be disbursed when the loan is closed.
(2) When construction is involved and the property complies with the definition of a home, the loan funds may be disbursed after the loan is closed, but disbursement is limited to the maximum percentage permitted by statute of the net appraised value.
Statutory/Other Authority: ORS 406.005 & 407.115
Statutes/Other Implemented: ORS 407.075 to 407.385; Oregon Constitution Article XI-A, Section 3
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