{"code":"HSC","codeName":"Health and Safety Code","section":"50058.5","citation":"Health & Saf. Code, § 50058.5","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 31. HOUSING AND HOME FINANCE [50000. - 54949.]","url":"https://blackletter.si/health-and-safety-code/division-31"},{"name":"PART 1. STATE HOUSING POLICY AND GENERAL PROVISIONS [50000. - 50300.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-1"},{"name":"CHAPTER 2. Definitions [50050. - 50106.]","url":"https://blackletter.si/health-and-safety-code/division-31/part-1/chapter-2"}],"history":"Added by Stats. 1982, Ch. 320, Sec. 3.   Effective June 29, 1982.","effective":"1982-06-29","html":"<p>“Buy-down mortgage plan” is a program by which the effective interest cost to the purchaser of a real property is reduced below market rates through supplemental payments by the agency to a qualified mortgage lender in return for which the agency shall obtain from the purchaser an interest-bearing note secured by a subordinated mortgage on the property which is purchased.</p>","text":"“Buy-down mortgage plan” is a program by which the effective interest cost to the purchaser of a real property is reduced below market rates through supplemental payments by the agency to a qualified mortgage lender in return for which the agency shall obtain from the purchaser an interest-bearing note secured by a subordinated mortgage on the property which is purchased.","otherVersions":[],"url":"https://blackletter.si/health-and-safety-code/definitions-50058-5","source":"California Legislative Information bulk export (pubinfo)"}