(a) For all catastrophes occurring towards or once October twenty six, 1993, you will find constraints how much currency you could use getting style of aim:
(1) $forty,000 to have fix otherwise replacement off household and personal consequences; (2) $two hundred,one hundred thousand to own repair otherwise replacement out-of a primary residence (plus upgrading to generally meet lowest requirements out of defense and you may decency otherwise newest strengthening code conditions). Repair or replacement for off land and/otherwise amusement facilities cannot go beyond $5,000; (3) $200,one hundred thousand for eligible refinancing aim; and you will (4) 20 percent of one’s amount borrowed (not including refinancing) doing a maximum of $48,000 to own minimization (discover Sec. ).
(b) You will possibly not play with mortgage proceeds to repay any costs towards private possessions, protected or unsecured, unless you incurred people expense because a result of the fresh disaster. (c) SBA find the borrowed funds maturity and you will installment terms according to the means plus capacity to pay. Leggi tutto “The maximum maturity having a home crisis loan is 3 decades”