Effective Dates and Interest Rates

for Above-Moderate Rural Housing (RH) 

or Other Real Estate (ORE) Loans

Effective Date Interest Rate (%)

March 11, 1978 8.75 + .50

June 3, 1978 9.00 + .50

July 4, 1978 9.50 + .50

May 23, 1979 10.00 + .50

October 15, 1979 10.50 + .50

November 14, 1979 11.50 + .50

February 27, 1980 12.00 + .50

March 6, 1980 13.00 + .50

April 19, 1980 14.00 + .50

May 14, 1980 13.00 + .50

June 14, 1980 11.50 + .50

September 20, 1980 12.00 + .50

December 20, 1980 13.50 + .50

May 27, 1981 15.50 + .50

September 14, 1981 16.50 + .50

October 1, 1981 17.50 + .50

November 9, 1981 16.50 + .50

December 7, 1981 15.50 + .50

February 22, 1982 16.50 + .50

April 8, 1982 15.50 + .50

August 30, 1982 15.00 + .50

September 20, 1982 14.00 + .50

October 25, 1982 13.50 + .50

November 1, 1982 12.50 + .50

December 6, 1982 12.00 + .50

May 23, 1983 11.50 + .50

July 11, 1983 12.00 + .50

August 8, 1983 12.50 + .50

September 19, 1983 13.00 + .50

December 1, 1983 12.50 + .50

_____________________________________________________________________________

Appendix 4, Page 1 of 1

(01-23-03) SPECIAL PN

Revised (07-11-22) SPECIAL PN
Effective Dates and Interest Rates for

Above-Moderate Single Family Housing (SFH) Nonprogram Loans 

Effective Date Interest Rate (%)

July 8, 1985 13.00

September 1, 1985 12.375

December 2, 1985 11.375

May 1, 1986 10.375

June 1, 1986 10.00

March 1, 1987 9.75

April 1, 1987 9.00

July 1, 1987 9.50

October 1, 1987 10.00

November 1, 1987 10.50

January 1, 1988 10.00

April 1, 1988 9.50

June 1, 1988 10.00

October 1, 1988 10.25

December 1, 1988 10.00

February 1, 1989 10.25

April 1, 1989 10.00

May 1, 1989 10.25

July 1, 1989 10.00

August 1, 1989 9.50

September 1, 1989 9.25

May 1, 1990 9.75

August 1, 1990 9.50

February 1, 1991 9.25

December 1, 1991 8.75

October 1, 1992 8.25

May 1, 1993 7.75

November 1, 1993 7.00

May 1, 1994 8.00

July 1, 1994 8.50

January 1, 1995 9.25

May 1, 1995 8.50

July 1, 1995 8.00

January 1, 1996 7.25

June 1, 1996 7.75

February 1, 1998 7.25

August 1, 1998 6.75

October 1, 1998 7.25

November 1,1998 6.875

December 1, 1998 6.625

January 1, 1999 6.875

February 1, 1999 6.750

March 1, 1999 6.875

May 1, 1999 7.250

July 1, 1999 7.375

August 1, 1999 7.625

October 1, 1999 7.750

_____________________________________________________________________________

Appendix 4, Page 2 of 9
Effective Dates and Interest Rates for

Above-Moderate Single Family Housing (SFH) Nonprogram Loans 

Effective Date Interest Rate (%)

December 1, 1999 7.875

October 1, 2000 7.375

January 1, 2002 6.625

May 1, 2002 7.250

November 1, 2002 6.500

July 1, 2003 6.250

August 1, 2003 5.875

September 1, 2003 6.250

October 1, 2003 6.875

February 1, 2004 6.625

May 1, 2004 5.875

July 1, 2004 6.875

October 1, 2004 6.750

November 1, 2004 6.500

April 1, 2005 6.125

June 1, 2005 6.375

July 1, 2005 6.125

August 1, 2005 5.875

January 1, 2006 6.250

February 1, 2006 6.250

June 1, 2006 6.500

July 1, 2006 6.750

November 1, 2006 6.500

January 1, 2007 6.250

March 1, 2007 6.375

May 1, 2007 6.250

August 1, 2007 6.625

October 1, 2007 6.500

January 1, 2008 6.125

March 1, 2008 5.875

August 1, 2008 6.250

November 1, 2008 5.875

February 1, 2009 4.875

March 1, 2009 4.500

April 1, 2009 5.125

July 1, 2009 5.375

August 1, 2009 5.675

September 1, 2009 5.500

October 1, 2009 5.375

July 1, 2010 5.125

August 1, 2010 5.000

September 1, 2010 4.750

November 1, 2010 4.500

January 1, 2011 4.750

_____________________________________________________________________________

Appendix 4, Page 3 of 9

(01-23-03) SPECIAL PN

Revised (04-01-24) PN 609
Effective Dates and Interest Rates for

Above-Moderate Single Family Housing (SFH) Nonprogram Loans

February 1, 2011 5.000

April 1, 2011 5.125

July 1, 2011 4.750

October 1, 2011 4.375

November 1, 2011 4.000

December 1, 2011 3.750

July 1, 2012 3.625

August 1, 2013 4.000

September 1, 2013 4.250

February 1, 2014 4.500

April 1, 2014 4.250

July 1, 2014 4.125

December 1, 2014 3.875

February 1, 2015 3.750

March 1, 2015 3.500

May 1, 2015 3.625

July 1, 2015 3.750

April 1, 2016 3.500

September 1, 2016 3.375

January 1, 2017 3.750

April 1, 2018 4.250

November 1, 2018 4.000

December 1, 2018 4.250

March 1, 2019 4.000

August 1, 2019 3.625

November 1, 2019 3.500

April 1, 2020 3.250

July 1, 2020 2.750

August 1, 2020 3.000

October 1, 2020 3.250

November 1,2020 3.500

January 1, 2021 3.000

June 1, 2022 3.500

July 1, 2022 3.750

August 1,2022 3.750

October 1,2022 3.750

November 1,2022 3.750

January 1,2023 4.250

February 1,2023 4.000

March 1, 2023 4.500

May 1, 2023 4.125

June 1, 2023 4.000

July 1, 2023 4.125

November 1, 2023 4.500

December 1, 2023 4.750

January 1,2024 5.125

February 1, 2024 4.625

March 1, 2024 4.500

_____________________________________________________________________________

Appendix 4, Page 4 of 9
DETERMINATION OF AMOUNT OF UNAUTHORIZED ASSISTANCE

A. When the recipient was at fault, choose the interest rate (from page 5 

or 6 of this appendix) that was in effect when the loan was approved and 

compute interest on the entire loan at that interest rate from the date the 

loan was closed to the date the letter to the borrower of unauthorized 

assistance is sent. Add the interest to the beginning principal balance, and 

subtract that from any payments the borrower has made on the loan. The 

result is the amount of unauthorized assistance.

B. When the recipient received interest credits to which he or she was not 

entitled, the amount of unauthorized assistance is considered to be the 

monthly amount of unauthorized interest credit times the number of months the 

incorrect agreement has been (or was) in effect, without the addition of 

interest. This formula will be used both in cases where the recipient was at 

fault and where the recipient was not at fault.

C. When the recipient was not at fault and:

1. The entire loan was unauthorized, the amount of unauthorized 

assistance is the outstanding balance (principal and interest) due as of the 

date of the repayment. The interest rate will be the rate set in the note.

2. The entire loan was made at the wrong interest rate, the amount of

unauthorized assistance will be computed as follows:

Outstanding principal balance x (correct rate - note rate) x length of 

time the loan was outstanding. For example, suppose a borrower received a

$35,000 loan on February 1, 1982, at 11 percent. The loan should have been 

made at 13 percent. The borrower has made several payments and reduced the 

outstanding principal balance to $33,500. The borrower will repay the loan 

on February 1, 1984. To figure the amount of unauthorized assistance; 

multiply $33,500 x 2 percent x 2 years. The 2 percent is the difference 

between the current rate and the note rate. If the borrower was properly 

granted interest credits, the unauthorized assistance for the time the 

interest credit agreement was in effect will be zero. For example, suppose a 

borrower's note should have been written at 13 percent but was improperly 

written at 11 percent. The borrower was granted interest credits and has 

been repaying at a rate of 1 percent. It makes no difference what the note 

and the current rates were; the borrower was entitled to repay the loan at 1 

percent, in accordance with the interest credit agreement.

_____________________________________________________________________________

Appendix 4, Page 5 of 9

(01-23-03) SPECIAL PN

Revised (07-11-22) SPECIAL PN
INTEREST RATES TO BE CHARGED ON LUMP-SUM REPAYMENTS 

WHEN UNAUTHORIZED ASSISTANCE WAS RECEIVED BECAUSE

RECIPIENT WAS AT FAULT

For Fiscal Year (FY) Interest Rate to Be Charged (%)

1979 8.974

1980 10.734

1981 13.094

1982 14.208

1983 10.880

1984 12.255

1985 11.236

1986 9.015

1987 8.227

1988 8.461

1989 8.990

1990 8.590

1991 7.936

1992 7.042

1993 6.200

1994 5.350

1995 7.797

1996 6.770

1997 7.110

1998 5.980

_____________________________________________________________________________

Appendix 4, Page 6 of 9
INTEREST RATES TO BE CHARGED ON LUMP-SUM REPAYMENTS

WHEN UNAUTHORIZED ASSISTANCE WAS RECEIVED BECAUSE

RECIPIENT WAS AT FAULT (Con.)

For Fiscal Year (FY) Interest Rate to Be Charged (%)

1999 5.81

2000 6.36

2001 5.75 

2002 5.62

2003 5.03

2004 5.24

2005 4.72

2006 4.99

2007 4.91

2008 4.58

2009 4.01

2010 4.28

2011 4.23

2012 2.970

2013 3.040

2014 3.460

2015 2.750

2016 2.490

2017 2.820

2018 2.970

2019 2.820

_____________________________________________________________________________

Appendix 4, Page 7 of 9

(01-23-03) SPECIAL PN

Revised (07-11-22) SPECIAL PN
INTEREST RATES TO BE CHARGED ON LUMP-SUM REPAYMENTS

WHEN UNAUTHORIZED ASSISTANCE WAS RECEIVED BECAUSE

RECIPIENT WAS AT FAULT (Con.)

For Fiscal Year (FY) Interest Rate to Be Charged (%)

2020 1.67

2021 1.94

2022 *

Appendix 4, Page 8 of 9
* The interest rate for FY 2021 will not be available until early FY 2022. 

If cases of unauthorized assistance received in FY 2021 are being serviced

prior to the provision of a rate for FY 2021, use the interest rate for FY 

2020 to compute the amount due.

_____________________________________________________________________________

Appendix 4, Page 7 of 9

(01-23-03) SPECIAL PN

Revised (07-11-22) SPECIAL PN