Text
Title 7: Agriculture
Subtitle B: Regulations of the Department of Agriculture (Continued)
CHAPTER XVIII: RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE (CONTINUED)
SUBCHAPTER H: PROGRAM REGULATIONS (CONTINUED)
PART 1980: GENERAL
Subpart D: Rural Housing Loans
1980.320 - Interest rate.
The interest rate must not exceed the established applicable usury rate. Loans guaranteed under this subpart must bear a fixed interest rate over the life of the loan. The rate shall be agreed upon by the borrower and the Lender and must not be more than the lender's published rate for VA first mortgage loans with no discount points or the current Fannie Mae rate as defined in ? 1980.302(a), whichever is higher. The lender must document the rate and the date it was determined.
Sponsored links
