Health and Safety Code section 50058.5

“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.

Source: Section 50058.5, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=HSC§ionNum=50058.­5.­ (updated Jun. 29, 1982; accessed Jun. 16, 2025).

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Verified:
Jun. 16, 2025

§ 50058.5's source at ca​.gov