(a) The amount of any loan to any borrower made by the loan fund pool created by this part shall not exceed sixty-five percent (65%) of the total loan amount, plus any permissible closing costs eligible for financing.

Terms Used In Tennessee Code 13-23-305

  • Loan fund pool: means appropriations by the state and any appropriations, reserves or dedications of any funds by any county which desires to participate in the homebuyers' revolving loan fund pool. See Tennessee Code 13-23-302
(b) Loan agreements for repayment under this part shall not exceed thirty (30) years.
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