### Question
What does mortgage charge rate mean?


### Answer
**Mortgage charge rate** has the following meaning in *12 U.S.C. § 1709*:

> the amount of mortgage charges for an insured mortgage expressed as a percentage of the initial principal amount of the mortgage

#### Citation:
  - *12 U.S.C. § 1709*
  - Heading: **CHAPTER 13-NATIONAL HOUSING > SUBCHAPTER II-MORTGAGE INSURANCE**

