(a) Assistance available pursuant to this subchapter is limited to a one-time loan of up to $15,000 with a maximum 20-year amortized term.
(b) The interest rate shall be 3%, unless otherwise provided by the Mayor by rulemaking.
(c) The Mayor shall establish underwriting guidelines, including loan amounts and repayment terms, by rulemaking.
(Apr. 27, 1999, D.C. Law 12-266, § 5, 46 DCR 948; Apr. 12, 2000, D.C. Law 13-91, § 155, 47 DCR 520.)
Prior Codifications1981 Ed., § 45-2214.
Effect of AmendmentsD.C. Law 13-91 validated a previously made technical amendment in subsec. (a).