The ratio of loan to total housing development cost and the amortization period of loans made under this chapter which are insured by the Federal Housing Administration (FHA) shall be governed by the FHA mortgage insurance commitment for each housing development; but in no event shall such amortization period exceed fifty years.
S.D. Codified Laws § 11-11-149
Amount and amortization period of FHA loans
Known as the South Dakota Housing Development Authority Act
The act spans §§ 11-11-1 to 11-11-99 (141 sections).
Source: SL 1973, ch 180, § 19 (2); SDCL Supp, § 28-19-127.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.