OAR 274-020-0360: Disbursement of Loan Funds

Edition: Current OARD snapshotEffective: 2020-07-11Last verified: 2026-09-07

(1) When a veteran is purchasing or refinancing, the loan funds may be disbursed when the loan is closed. (2) When construction is involved and the property complies with the definition of a home, the loan funds may be disbursed after the loan is closed, but disbursement is limited to the maximum percentage permitted by statute of the net appraised value.

Official history and status

Statutory/Other Authority: ORS 406.005 & 407.115

Statutes/Other Implemented: ORS 407.075 to 407.385; Oregon Constitution Article XI-A, Section 3

History: DVA 5-2020, amend filed 07/10/2020, effective 07/11/2020 DVA 1-2020, temporary amend filed 01/21/2020, effective 01/22/2020 through 07/10/2020 DVA 2-1978, f. & ef. 12-1-78 DVA 39, f. 5-27-71, ef. 6-25-71 DVA 22-1957, f. 11-15-57, ef. 11-14-57

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Official source: https://secure.sos.state.or.us/oard/