Section 11-11-149 - Amount and amortization period of FHA loans.
11-11-149. Amount and amortization period of FHA loans. 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.
Source: SL 1973, ch 180, § 19 (2); SDCL Supp, § 28-19-127.