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HAC Lowers Interest Rates

In an effort to increase the capacity of local organizations to develop affordable housing in rural communities, the Housing Assistance Council has lowered the standard interest rate to 4.75 percent (7.75 percent for for-profit entities) for its loan fund products. HAC loan funds can be used for single-family or multifamily housing projects to support predevelopment, acquisition, site development, and construction/rehabilitation activities.