N.D. Admin Code 13-02-20-03 - Loan-to-value limitations
Except as provided in this section and section 13-02-20-04:
1. Loans secured by raw land may not exceed a
sixty-five percent loan-to-value ratio.
2. Loans made for land development may not
exceed a seventy-five percent loan-to-value ratio.
3. Construction loans for commercial,
multifamily, condominiums, cooperatives, and other nonresidential property may
not exceed an eighty percent loan-to-value ratio.
4. Construction loans for one-to-four family
residential real property may not exceed an eighty-five percent loan-to-value
ratio.
5. Improved property loans
may not exceed an eighty-five percent loan-to-value ratio.
6. Owner-occupied one-to-four family and home
equity loans may not exceed a ninety percent loan-to-value ratio. However, such
loans may exceed the ninety percent loan-to-value limit provided the amount
above this limitation is government guaranteed, or has an appropriate credit
enhancement in the form of either mortgage insurance or readily marketable
collateral.
Notes
General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-03-05
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