# § 1927a. Loan interest rates charged by Farmers Home Administration; grant funds associated with loans
October 1, 1981November 12, 1983
Effective , and thereafter, in the case of water and waste disposal and community facility borrowers, and effective , 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.
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**Source Credit**: (Pub. L. 99–88, title I, § 100, Aug. 15, 1985, 99 Stat. 296; Pub. L. 100–233, title VI, § 615(b)(1)(A), Jan. 6, 1988, 101 Stat. 1681.)
## 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— substituted “Effective , and thereafter, in the case of water and waste disposal and community facility borrowers, and effective , and thereafter, in the case of housing and farm borrowers” for “Effective , 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
> “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 [
>
> ,
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> note] on or before the date of the enactment of this paragraph [
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> ].”
, , , provided that: