§ 3550.113 - Rates and terms (loans only).

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§ 3550.113 Rates and terms (loans only).
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Link to an amendment published at 87 FR 6773, Feb. 7, 2022.
(a) Interest rate. The interest rate for all section 504 loans will be 1 percent.
(b) Loan term. The repayment period for the loan should generally be as short as possible based on the applicant's repayment ability, and may never exceed 20 years; however loans made in combination with grants must have a term of 20 years. all section 504 loans will be 20 years.
[61 FR 59779, Nov. 22, 1996, as amended at 87 FR 6773, Feb. 7, 2022]

                    
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§ 3550.113 - Rates and terms (loans only).

§ 3550.113 Rates and terms (loans only).

Cross Reference