Sec. 774.
101 words·~1 min read·
/bill/118/hr/4366/eas/section-774·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding section 521(a)(1)(B) of the Housing Act of 1949 (42 U.S.C 1490a(a)(1)(B)), for loans made under section 502 ( 42 U.S.C. 1472 ), the Secretary of Agriculture may provide the borrower with assistance in the form of credits so as to reduce the effective interest rate to a rate not less than 2 per centum per annum for such periods of time as the Secretary may determine for applicants described in section 521(a)(1)(A) ( 42 U.S.C. 1490a(a)(1)(A) ) if without such assistance such applicants could not afford the dwelling or make payments on the indebtedness of the rental or cooperative housing.