Oregon Law
Law as of Jan 1, 2026
Chapter contents
407.010[Amended by 1975 c.219 §1; 1977 c.383 §6; subsection (3) enacted as 1977 c.383 §9; 1979 c.176 §1; 1981 c.661 §1; 1982 s.s.1 c.11 §10; 1983 c.445 §1; renumbered 407.085] 407.020[Amended by 1967 c.245 §1; 1971 c.221 §2; renumbered 407.115] 407.030[Amended by 1977 c.383 §8; renumbered 407.125] 407.035[1981 c.659 §7; renumbered 407.505] 407.040[Amended by 1953 c.97 §2; 1957 c.125 §1; 1963 c.163 §1; 1965 c.269 §1; 1967 c.112 §1; 1969 c.615 §1; 1971 c.221 §3; 1973 c.574 §1; 1975 c.6 §1; 1975 c.263 §1; 1977 c.676 §3; 1979 c.177 §1; 1981 c.604 §1; 1982 s.s.1 c.11 §12; 1983 c.387 §1; renumbered 407.205] 407.042[1981 c.366 §2; renumbered 407.385] 407.043[1977 c.676 §2; renumbered 407.397] 407.045[1969 c.523 §1; renumbered 407.215] 407.048[1977 c.315 §2; 1981 c.628 §1; 1982 s.s.1 c.11 §13; 1983 c.445 §4; renumbered 407.255] 407.050[Amended by 1957 c.125 §2; 1971 c.221 §4; 1973 c.574 §2; 1975 c.219 §2; renumbered 407.225] 407.055[1977 c.383 §1; 1981 c.565 §3; 1983 c.445 §5; renumbered 407.175] 407.058[1977 c.383 §3; 1983 c.445 §6; renumbered 407.235] 407.060[Repealed by 1971 c.743 §432] 407.061[1977 c.383 §4; 1983 c.445 §7; renumbered 407.245] 407.063[1981 c.387 §1; 1982 s.s.1 c.11 §14; renumbered 407.305] 407.065[1979 c.176 §3; renumbered 407.265] 407.070[Amended by 1955 c.151 §1; 1957 c.125 §3; 1969 c.615 §5; 1971 c.221 §5; 1975 c.219 §3; 1977 c.676 §4; 1981 c.387 §2; 1982 s.s.1 c.11 §17; renumbered 407.275] 407.072[1969 c.615 §3; 1971 c.221 §6; 1975 c.219 §4; 1977 c.645 §1; 1981 c.659 §5; renumbered 407.325] 407.073[1969 c.615 §4; 1971 c.221 §7; 1977 c.676 §5; 1983 c.420 §3; renumbered 407.335] 407.074[1955 c.102 §§2,3,7; 1975 c.219 §5; 1979 c.238 §1; renumbered 407.465] 407.075Purpose; legislative intent 407.076[1955 c.102 §§4,5,6; 1969 c.433 §1; 1979 c.35 §1; 1979 c.238 §2; renumbered 407.475] 407.080[Amended by 1975 c.219 §6; renumbered 407.135] 407.085Definitions 407.087Definition of “veteran.” 407.095Policy against foreclosure; rules 407.100[Renumbered 407.155] 407.110[Renumbered 407.595] 407.115[Formerly 407.020; 2005 c.625 §17; repealed by 2019 c.223 §24] 407.120[Amended by 1975 c.219 §8; renumbered 407.165] 407.125Loans to qualified person 407.129[1987 c.509 §§2,3; repealed by 1993 c.159 §1] 407.130[Amended by 1967 c.369 §2; 1979 c.115 §1; repealed by 1981 c.660 §18] 407.131Discount of principal; rules 407.135Authority of department; disposition of certain moneys 407.140[Amended by 1975 c.462 §12; 1981 c.660 §36; renumbered 407.415] 407.145Purchase and control of property; disbursements to protect security 407.150[Repealed by 1981 c.660 §18] 407.155Execution and custody of documents 407.160[Amended by 1967 c.335 §49; 1967 s.s. c.19 §2; 1983 c.798 §10; renumbered 407.495] 407.165Authority to hold certain funds received from borrower 407.169Escrow accounts; standards; interest; rules 407.170[Amended by 1967 c.335 §50; 1981 c.660 §37; renumbered 407.515] 407.175[Formerly 407.055; repealed by 1995 c.238 §8] 407.177Loan processing and servicing contracts with lending institutions; terms; procedures 407.179Additional powers delegated to lending institution; authority retained by department 407.180[Renumbered 407.525] 407.181Authority of lending institution 407.183[1967 s.s. c.1 §2; 1967 s.s. c.19 §1; 1969 c.615 §6; renumbered 407.535] 407.185Cash flow projection; annual review; report 407.186[1967 s.s. c.1 §3; renumbered 407.545] 407.190[Amended by 1967 c.454 §45; 1971 c.80 §3; renumbered 407.555] 407.195Loans not being amortized; identification; notice to borrowers 407.200[Amended by 1967 c.189 §1; 1971 c.80 §4; 1983 c.740 §128; renumbered 407.565] 407.201Required disclosure of credit information and loan terms 407.205Application for loan; amount of loan; limit on number of loans 407.210[Amended by 1963 c.9 §23; renumbered 407.575] 407.215Certain loans excludable from maximum loan amount 407.225Processing of loan application; security 407.235[Formerly 407.058; 1985 c.296 §4; repealed by 1995 c.238 §8] 407.245[Formerly 407.061; repealed by 1995 c.238 §8] 407.255[Formerly 407.048; 1987 c.652 §5; repealed by 1995 c.238 §8] 407.265[Formerly 407.065; 1987 c.221 §1; 1997 c.214 §3; repealed by 2019 c.223 §24] 407.275Terms of loan to veteran and transferee 407.285Rate of interest payable by certain transferees 407.295Transfer to spouse; notice to department; notice of delinquent payment 407.305Assumption of previous loan by eligible veteran; additional funds; maximum amount 407.310[Repealed by 1981 c.660 §18] 407.315Interest rate for veteran’s assumption; variable rate; effect of rate on cash flow; rules 407.320[Repealed by 1981 c.660 §18] 407.325Rate of interest on loans; rules 407.327Department to prescribe fixed or variable interest rates 407.330[Repealed by 1981 c.660 §18] 407.335Rate of interest payable by transferee; limit on transfers; rules 407.340[Amended by 1975 c.462 §13; repealed by 1981 c.660 §18] 407.345[1982 s.s.1 c.12 §2; 1987 c.652 §7; repealed by 1991 c.262 §1] 407.349Late charges authorized for periodic payments 407.350[Repealed by 1981 c.660 §18] 407.355[1983 c.219 §2; 1985 c.287 §2; 1987 c.661 §2; 1991 c.262 §3; repealed by 1995 c.238 §8] 407.360[Repealed by 1981 c.660 §18] 407.365[1983 c.219 §3; repealed by 1995 c.238 §8] 407.370[Amended by 1975 c.614 §15; repealed by 1981 c.660 §18] 407.375Sale of foreclosed properties; improvement in lieu of down payment; interest rate; redemption of property; rules 407.377Sale or management of foreclosed property under personal services contract 407.380[Amended by 1967 c.335 §51; repealed by 1980 c.17 §1 and by 1981 c.660 §18] 407.385Prohibition against using loan for purpose other than farm or home acquisition; prompt use of farm or home as principal residence; extension; exception; penalty 407.390[Repealed by 1981 c.660 §18] 407.395[1953 c.595 §1; repealed by 1981 c.660 §18] 407.397[Formerly 407.043; repealed by 1985 c.296 §10] 407.400[Repealed by 1981 c.660 §18] 407.410[Repealed by 1981 c.660 §18] 407.415Issuance of bonds 407.420[Amended by 1971 c.418 §12; repealed by 1981 c.660 §18] 407.425Factors considered before requesting bond issuance 407.430[Repealed by 1971 c.743 §432] 407.435Issuance of bonds for tax payment; conditions; term 407.440[Repealed by 1981 c.660 §18] 407.445[1982 s.s.1 c.12 §3; repealed by 1991 c.262 §1] 407.465Loan cancellation life insurance 407.475Persons insurable under ORS 407.465 407.480Definitions for ORS 407.480 to 407.490 407.485Agreements for mortgage insurance; terms; amount; required coverage 407.490Mortgage insurance claims; liability of department 407.495Oregon War Veterans’ Fund; sources; uses 407.505Loan moneys to be reserved for borrower prior to loan commitment 407.510[Repealed by 1967 c.421 §206] 407.515Oregon War Veterans’ Bond Sinking Account; sources; use 407.520[Repealed by 1967 c.421 §206] 407.525Transfer of sinking account moneys to veterans’ fund; retransfer 407.530[Repealed by 1967 c.421 §206] 407.535[Formerly 407.183; repealed by 1987 c.652 §12] 407.540[Repealed by 1967 c.421 §206] 407.541[Repealed by 1967 c.421 §206] 407.545[Formerly 407.186; repealed by 1987 c.652 §12] 407.550[Repealed by 1967 c.421 §206] 407.555Auditing and payment of claims 407.560[Repealed by 1967 c.421 §206] 407.565Revolving account 407.570[Repealed by 1967 c.421 §206] 407.575[Formerly 407.210; 1987 c.652 §11; repealed by 1991 c.220 §15] 407.580[Repealed by 1967 c.421 §206] 407.582[2008 c.18 §19; repealed by 2015 c.531 §1] 407.585[2008 c.18 §20; repealed by 2015 c.531 §1] 407.590[Repealed by 1967 c.421 §206] 407.595Loans not subject to execution or assignment 407.600[Repealed by 1967 c.421 §206] 407.610[Amended by 1953 c.106 §2; repealed by 1967 c.421 §206] 407.620[Repealed by 1967 c.421 §206] 407.630[Repealed by 1967 c.421 §206] 407.640[Repealed by 1967 c.421 §206] 407.650[Repealed by 1953 c.106 §2] 407.660[Repealed by 1953 c.106 §2] 407.990[Amended by 1967 c.421 §202; repealed by 1971 c.743 §432]

Chapter 407 — Veterans Loans

ORS 407.131 Discount of principal; rules

The Department of Veterans’ Affairs, by rule, may discount a portion of the principal payable to the department in connection with a home or farm loan or in connection with a purchase contract for a home or farm if such action results in economic benefit to the home and farm loan program after considering the time value of money.

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Version history

2026-01-01

2025 Oregon Revised Statutes — official online source