42 U.S. Code § 12808 - Second mortgage assistance for first-time homebuyers
Second mortgage assistance for first-time homebuyers
(a) In general
(b) Homeownership counselingThe program under this section shall provide for homeownership counseling to first-time homebuyers assisted, which shall include—
assisting first-time homebuyers in identifying the most suitable and affordable properties;
assisting homebuyers in understanding mortgage transactions and home sales contracts; and
(c) Eligibility requirementsDeferred payment loans secured by second mortgages may be provided under the model program under this section if—
the homebuyer assisted is a first-time homebuyer;
the property secured by the second mortgage is a single-family residence and is the principal residence of the homebuyer; and
(d) Payment terms
(1) Period of deferral
(2) Interest rate
The interest rate on the unpaid balance of a loan under this section shall be at least 4 percent.
 So in original. Probably should be “amounts”.
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