24 CFR § 232.901 - Mortgages covering existing projects are eligible for insurance.

---
identifier: "/us/cfr/t24/s232.901"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 232.901 - Mortgages covering existing projects are eligible for insurance."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "232.901"
section_name: "Mortgages covering existing projects are eligible for insurance."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "232"
part_name: "MORTGAGE INSURANCE FOR NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES, AND ASSISTED LIVING FACILITIES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715b, 1715w, 1735d, and 1735f-19; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24618, Dec. 22, 1971, unless otherwise noted."
cfr_part: "232"
---


# 232.901 Mortgages covering existing projects are eligible for insurance.

A mortgage executed in connection with the purchase or refinancing of an existing project without substantial rehabilitation may be insured under this subpart pursuant to section 223(f) of the Act. A mortgage insured pursuant to this subpart shall meet all other requirements of this part except as expressly modified by this subpart.

[59 FR 61228, Nov. 29, 1994]