Title 7 — AgricultureRelease 119-73not60
§1927a Loan Interest Rates Charged by Farmers Home Administration; Grant Funds Associated with Loans
Title 7 › Chapter 50— AGRICULTURAL CREDIT › Subchapter I— REAL ESTATE LOANS › § 1927a
Summary
Borrowers may request the lower interest rate in effect at loan approval or at closing. Effective 10/1/1981 for water, waste, and community facility, and 11/12/1983 for housing and farm loans, any FmHA grant must use the approval rate.
Full Legal Text
Title 7, §1927a
Agriculture — Source: USLM XML via OLRC
Effective October 1, 1981, and thereafter, in the case of water and waste disposal and community facility borrowers, and effective November 12, 1983, and thereafter, in the case of housing and farm borrowers, upon request of the borrower, the interest rate charged by the Farmers Home Administration to such borrowers shall be the lower of the rates in effect at either the time of loan approval or loan closing and any Farmers Home Administration grant funds associated with such loans shall be set in amount based on the interest rate in effect at the time of loan approval.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Section was enacted as part of the Supplemental Appropriations Act, 1985, and not as part of the Consolidated Farm and Rural Development Act which comprises this chapter.
Amendments
1988—Pub. L. 100–233 substituted “Effective
October 1, 1981, and thereafter, in the case of water and waste disposal and community facility borrowers, and effective
November 12, 1983, and thereafter, in the case of housing and farm borrowers” for “Effective
November 12, 1983, and thereafter” and “to such borrowers” for “to housing, farm, water and waste disposal, and community facility borrowers”.
Statutory Notes and Related Subsidiaries
Applicability of 1988 Amendment Pub. L. 100–233, title VI, § 615(b)(1)(B), Jan. 6, 1988, 101 Stat. 1682, provided that: “The amendment made by subparagraph (A) [amending this section] shall not apply to any note or other obligation sold under section 1001 of the Omnibus [Budget] Reconciliation Act of 1986 [Pub. L. 99–509, 7 U.S.C. 1929a note] on or before the date of the enactment of this paragraph [Jan. 6, 1988].”
Reference
Citations & Metadata
Citation
7 U.S.C. § 1927a
Title 7 — Agriculture
Last Updated
Apr 3, 2026
Release point: 119-73not60