7 CFR 770.6 : Agriculture (§ 1.1 To Parts 4291-4299) — (Part 700 To Parts 869-899) — Regulations Of The Department Of Agriculture (Continued) (Part 700 To Parts 869-899) — Farm Service Agency, Department Of Agriculture (Part 700 To Appendix 2 To Part 799) — Special Programs (Part 750 To § 789.73) — Indian Tribal Land Acquisition Loans (§ 770.1 To § 770.10) — Rates and terms.

(a) Term. Each loan will be scheduled for repayment over a period not to exceed 40 years from the date of the note.

(b) Interest rate. The interest rate charged by the Agency will be the lower of the interest rate in effect at the time of the loan approval or loan closing, which is the current rate available in any FSA office. Except as provided in § 770.10(b) the interest rate will be fixed for the life of the loan.