The term of a loan under 15 AAC 151.500 may not exceed 30 years or the estimated useful life expectancy of the housing as determined by the Corporation, whichever is less. If a loan is directly funding the allowable costs of the construction, rehabilitation, or improvement of the housing, the term may not exceed 24 months.

(Eff. 5/7/93, Register 130; am 8/3/94, Register 132)

Authority: AS 18.56.088, AS 18.56.090, AS 18.56.099