[Federal Register Volume 77, Number 173 (Thursday, September 6, 2012)]
[Notices]
[Page 54877]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-21883]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service


Guaranteed Rural Rental Housing Low Loan-to-Cost Ratio

AGENCY: Rural Housing Service, USDA.

ACTION: Notice.

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SUMMARY: The Rural Housing Service announces the low loan-to-cost ratio 
required for loans guaranteed under Option Three (Continuous Guarantee) 
of the Guaranteed Rural Rental Housing Program (GRRHP). The GRRHP is 
authorized by section 538 of the Housing Act of 1949, as amended (42 
U.S.C. 1490p-2) and operates under 7 CFR part 3565. The low loan-to-
cost ratio is defined at 50 percent in order for a loan to be eligible 
for a single continuous guarantee for construction and permanent loans 
pursuant to 7 CFR part 3565.52. The Rural Housing Service is not 
modifying the lease-up reserves and percent of guarantee previously 
established for this program.

FOR FURTHER INFORMATION CONTACT: Monica Cole, Financial and Loan 
Analyst, USDA Rural Development Guaranteed Rural Rental Housing 
Program, Multi-Family Housing Guaranteed Loan Division, U.S. Department 
of Agriculture, South Agriculture Building, Room 1263-S, STOP 0781, 
1400 Independence Avenue SW., Washington, DC 20250-0781. Email: 
[email protected]. Telephone: (202) 720-1251. This number is not 
toll-free. Hearing or speech-impaired persons may access that number by 
calling the Federal Information Relay Service toll-free at (800) 877-
8339.

    Dated: August 2, 2012.
Cristina Chappe,
Acting Administrator, Rural Housing Service.
[FR Doc. 2012-21883 Filed 9-5-12; 8:45 am]
BILLING CODE 3410-XV-P