12 USC § 1701l - Limitation on interest rates of insured mortgages; terms of sales

---
identifier: "/us/usc/t12/s1701l"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 1701l - Limitation on interest rates of insured mortgages; terms of sales"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "1701l"
section_name: "Limitation on interest rates of insured mortgages; terms of sales"
chapter_number: 13
chapter_name: "NATIONAL HOUSING"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Apr. 20, 1950, ch. 94, title V, § 508, 64 Stat. 81; Pub. L. 90–19, § 8(e), May 25, 1967, 81 Stat. 22.)"
---


# § 1701l. Limitation on interest rates of insured mortgages; terms of sales

12 U.S.C. 1701

It is the intent of Congress that no sale of a dwelling on which a mortgage is insured under the National Housing Act, as amended [ et seq.], shall be financed, while such mortgage is so insured, at an interest rate higher than that prescribed by the Secretary of Housing and Urban Development. It is the further intent of Congress that no such sale shall be made, while such mortgage is so insured, on terms less favorable to the purchaser as to amortization, retirement, foreclosure, or forfeiture than those contained in such mortgage.

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**Source Credit**: (Apr. 20, 1950, ch. 94, title V, § 508, 64 Stat. 81; Pub. L. 90–19, § 8(e), May 25, 1967, 81 Stat. 22.)

## Editorial Notes

### References in Text

The National Housing Act, as amended, referred to in text, is , , which is classified principally to this chapter (§ 1701 et seq.). For complete classification of this Act to the Code, see  and Tables.

### Codification

Section was enacted as part of the Housing Act of 1950, and not as part of the National Housing Act which comprises this chapter.

### Amendments

1967— substituted “Secretary of Housing and Urban Development” for “Federal Housing Commissioner”.