To the extent allowed by the Financial Institution, an applicant may qualify for a grant or an unsecured Interest Free Loan equal to an amount not exceeding Five Percent (5%) of the lower of the appraised value or the selling price of a Home financed under the provisions of this Article. The funds for grants or loans under this subsection shall come from the Community Affordable Housing Action Trust as defined in § 4209 of this Article. The maximum loan or grant shall be five
percent (5%) of the lower of the appraised value or the selling price of the Home financed not to exceed Five Thousand Dollars ($5,000). The Financial Institution may include the repayment of the unsecured Interest Free Loan in the borrower’s total debt qualifying ratio. SOURCE: Added by P.L. 21-099:2 (Mar. 31, 1992) as § 4206a. Renumbered by the Compiler to adhere to its general codification scheme pursuant to the authority granted by 1 GCA § 1606.