Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-04-02 - Homeownership Program
Section 0770-04-02-.03 - ELIGIBLE PROPERTIES
Universal Citation: TN Comp Rules and Regs 0770-04-02-.03
Current through September 24, 2024
(1) In order to be subject to a mortgage made to secure a loan under this program, a home must meet the following requirements:
(a) Be
located in the State of Tennessee.
(b) Be situated on real estate held or to be
held by the mortgagor in fee simple or under an eligible leasehold
interest.
(c) Be structurally sound
and functionally adequate and comply with the property standards established by
the Agency and when applicable, the qualified insurer, and meet all controlling
minimum building and housing codes.
(d) Be designed principally for residential
use and located in an area consistent with such use.
(e) Be appraised pursuant to rule
0770-4-2-.09 of these regulations.
Authority: Public Acts of 1986, Chapter 510.
Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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