{"data":{"id":"us/7-cfr-764.204","jurisdiction":"us","citation":"7 CFR 764.204","heading":"Rates and terms.","body":"(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.\n(b) Terms. (1) The Agency schedules repayment of Down payment loans in equal, annual installments over a term not to exceed 20 years.\n(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.","path":["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"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-7.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:01Z","sha256":"cb1fc63a6c404b886e973f833b21e55a50abc77351daf625a853835a12cf8a11","source_id":"us-cfr","stale":true,"prev":"us/7-cfr-764.203","next":"us/7-cfr-764.205"},"notice":"GroundRules: Original legal text. Not legal advice."}