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A Downpayment loan must:
(a) Be secured in accordance with §§ 764.103 through 764.106;
(b) Be secured by a lien on the property being acquired with the loan funds and junior only to the party financing the balance of the purchase price.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.764.205 Security requirements - last updated October 03, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-764-205/
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