Military and Veterans Code § 987.655

ARTICLE 3.1. Veterans’ Farm and Home Purchase Act of 1974

Current as of September 28, 2026Mil. & Vet. Code, § 987.655Official source ↗

Amended by Stats. 2021, Ch. 549, Sec. 13. (SB 661) Effective January 1, 2022.

For a mobilehome which is to be sited in a mobilehome park as defined in Section 18214 of the Health and Safety Code, the department shall charge a rate of interest higher than that which is charged to purchasers of conventional housing or of a mobilehome sited on a lot owned by the purchaser. The interest rate shall be set by the department to balance lending risk while maintaining a rate at or below the market rate for a mobilehome in a park.