Guaranteed Rural Rental Housing Low Loan-to-Cost Ratio

Resumo

The Rural Housing Service announces the low loan-to-cost ratio required for loans guaranteed under Option Three (Continuous Guarantee) of the Guaranteed Rural Rental Housing Program (GRRHP). The GRRHP is authorized by section 538 of the Housing Act of 1949, as amended (42 U.S.C. 1490p-2) and operates under 7 CFR part 3565. The low loan-to- cost ratio is defined at 50 percent in order for a loan to be eligible for a single continuous guarantee for construction and permanent loans pursuant to 7 CFR part 3565.52. The Rural Housing Service is not modifying the lease-up reserves and percent of guarantee previously established for this program.