source:
  type: regulation
  id: usda-7cfr-3555.104
  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.104 — Loan terms
  description: '7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.104 Loan terms. Captured
    section-complete (all subsections verbatim).

    '
obligations:
- id: usda-7cfr-3555.104-a
  canonical_id: usda-7cfr-3555.104-a
  section: 7 CFR §3555.104(a)
  description: 'Loan terms — (a): (a) Interest rate. The loan must be written at an interest rate that: (1) Is fixed
    over the term of the loan; (2) Shall be negotiated between the lender and the borrower to allow the borrower
    to obtain the best available rate in compliance with all applicable laws. (3) If the interest rate increases…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.104
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: '(a) Interest rate. The loan must be written at an interest rate that: (1) Is fixed over the
      term of the loan; (2) Shall be negotiated between the lender and the borrower to allow the borrower to obtain
      the best available rate in compliance with all applicable laws. (3) If the interest rate increases between
      the time of the issuance of the conditional commitment and the loan closing, the lender will submit appropriate
      documentation and underwriting analysis to confirm that the applicant is still eligible. (4) The warehouse
      lender may charge an interest rate for interim construction financing that exceeds the underlying promissory
      note rate. After construction ends, the interest rate must revert to a rate that is no higher than the underlying
      promissory note rate. The Agency reserves the right to establish a maximum amount for the interim construction
      financing interest rate in the handbook, as necessary to further program goals and protect the best interests
      of the government.'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.104 subsection (a) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.104-b
  canonical_id: usda-7cfr-3555.104-b
  section: 7 CFR §3555.104(b)
  description: 'Loan terms — (b): (b) Repayment period. The term of the loan may not exceed 30 years. Adjustable
    rate mortgages, balloon term mortgages or mortgages requiring prepayment penalties are ineligible terms.'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.104
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (b) Repayment period. The term of the loan may not exceed 30 years. Adjustable rate mortgages,
      balloon term mortgages or mortgages requiring prepayment penalties are ineligible terms.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.104 subsection (b) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.104-c
  canonical_id: usda-7cfr-3555.104-c
  section: 7 CFR §3555.104(c)
  description: 'Loan terms — (c): (c) Repayment schedule. Amortized payments will be due and payable monthly.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.104
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (c) Repayment schedule. Amortized payments will be due and payable monthly.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.104 subsection (c) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.104-d
  canonical_id: usda-7cfr-3555.104-d
  section: 7 CFR §3555.104(d)
  description: 'Loan terms — (d): (d) Negative amortization. The loan note must not provide for interest on interest.
    [78 FR 73941, Dec. 9, 2013, as amended at 81 FR 6428, Feb. 8, 2016; 84 FR 35006, July 22, 2019]'
  type: dont
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.104
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (d) Negative amortization. The loan note must not provide for interest on interest. [78 FR
      73941, Dec. 9, 2013, as amended at 81 FR 6428, Feb. 8, 2016; 84 FR 35006, July 22, 2019]
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.104 subsection (d) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
