requirements.

A Down payment loan must: (a) Be secured in accordance with §§ 764.103 through 764.106; (b) Be secured by a lien on the property being acquired with the loan funds and junior only to the party financing the balance of the purchase price. [72 FR 63298, Nov. 8, 2007, as amended at 73 FR 74345, Dec. 8, 2008; 86 FR 43392, Aug. 9, 2021]