7 CFR 764.204

§ 764.204 Rates and terms.

United States · 7 CFR — Agriculture · Status: effective

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Citation: 7 CFR 764.204, § 764.204 Rates and terms, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19853
Permanent ID: ys:prov:19853@1
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Full text

(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.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.