GroundRules
7 CFR 764.204: Rates and terms.
Where this section sits in the code
- Title 7—Agriculture
- Subtitle B—Regulations of the Department of Agriculture
- CHAPTER VII—FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE
- SUBCHAPTER D—SPECIAL PROGRAMS
- PART 764—DIRECT LOAN MAKING
- Subpart E—Downpayment Loan Program
(a) Rates. The interest rate for Down payment loans will be the regular direct FO rate minus 4 percent, but in no case less than 1.5 percent.
(b) Terms. (1) The Agency schedules repayment of Down payment loans in equal, annual installments over a term not to exceed 20 years.
(2) The non-Agency financing must have an amortization period of at least 30 years and cannot have a balloon payment due within the first 20 years of the loan.
Collected 2026-08-27T02:24:01Z. Source file · JSON