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Current as of January 01, 2025 | Updated by Findlaw Staff
An association may make a mortgage loan not exceeding seventy-five percent of the fair market value of a property designed primarily for residential use by five or more families or upon the security of real estate on which such a building is to be erected or upon the security of real estate on which a building consisting of dwelling units used to house persons affiliated with a college, university, hospital or other institution is erected or to be erected. The department may by regulation authorize loans in excess of seventy-five percent of the fair market value on any or all of the aforedescribed properties.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 6020-144. Seventy-five percent loans on properties designed primarily for residential use by five or more families - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-6020-144/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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