§ 370.19. Replacement Housing Payment to Owner-Occupant for Less Than 180 Days but Not Less Tha...
23 CA ADC § 370.19Barclays Official California Code of Regulations
23 CCR § 370.19
§ 370.19. Replacement Housing Payment to Owner-Occupant for Less Than 180 Days but Not Less Than 90 Days Who Purchases a Replacement Dwelling.
(a) General. A displaced owner-occupant otherwise eligible under Section 370.17 (a) except that he has owned and occupied the dwelling for less than 180 days but not less than 90 days may receive an amount, not to exceed $4,000.00, to enable him to make a downpayment on the purchase of a replacement dwelling and reimbursement for actual expenses incident to such purchase; or for additional costs to relocate his retained dwelling in accordance with the following:
(1) The amount of the downpayment shall be determined by the Department as the amount required as a typical downpayment on a comparable dwelling if such purchase was financed with a conventional loan, plus the amount required to be paid by the purchaser as points and/or an origination or loan services fee (not to exceed one percent of the probable replacement cost of the acquired dwelling as determined by the Department or one percent of the loan on the replacement dwelling whichever is less), if such fees are normal to real estate transactions in the area.
Credits
Note: Authority cited: Section 7267.8, Government Code. Reference: Section 7268, Government Code.
This database is current through 5/3/24 Register 2024, No. 18.
Cal. Admin. Code tit. 23, § 370.19, 23 CA ADC § 370.19
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