Table 2. AFP Program Profiles FY 2008
State Loan Models Range of Loan Amounts Interest Charged to Borrower Repayment Terms Loan Guarantee Requirements
Ala Guaranteed Loan Up to -$35,000 6% Up to 10 years 100%
Ariz. Guaranteed/Interest Rate Buy-Down Loan $500 - $10,000 4% - 10.25% 1 - 4 years 100%
Ark. Revolving Loan $500 - $50,000 5% up to 20 years n/a
Del. Guaranteed Loan, $500 - $30,000 4% - 13.74% 2 to 15 years 100%
Interest Rate Buy-Down,
Guaranteed/Interest Rate Buy-Down
Fla. Guaranteed Loan, Non Guaranteed Low-Interest Loan $3,000 - $30,000 5.25% - 8.25% 2 - 6 years 50% -100%
Ga. Guaranteed Loan $300 - $60,000 5% - 6.9% 1 - 8 years 15% secured, 40% unsecured
Guam Guaranteed Loan $100 - $3,000 2.25% 1 - 5 years 100%
Ill. Guaranteed Loan, $500 - $40,000 5.50% 1 - 15 years 66%
Principal Buy-Down Loan
 
Iowa Revolving Loan, $500-$10,000 (D); No minimum No maximum (G) 2% No minimum - no maximum Variable based on collateral
Guaranteed Loan Determined by Bank No minimum -6 years
     
Kan. Revolving Loan, $500-$50,000 4% - 8% 1/2 year to 10 years 100%
Guaranteed Loan
 
Ky. Guaranteed Loan $500 - $25,000 4.5% -5.5% 1 - 9 years 100%
La. Guaranteed Loan, $500 - $50,000 Prime + 1% - Prime + 2% 3 - 7 years 35%
Non Guaranteed Low Interest Loan
 
Maine Revolving Loan $250 - $100,000 0% - 2% below Prime 1 20 years n/a
Md. Guaranteed Loan, $500 - $50,000 4% - 11.49% 1 - 7 years; 33%
Interest Rate Buy Down Loan, up to 10 years for home equity loan
Guaranteed/Interest Rate Buy-Down Loan,  
Preferred Rate Non Guaranteed Loan  
   
Mass. Interest Rate Buy Down Loan, $500- No maximum 4.5% - 6% 2 - 10 years 100%
Guaranteed Interest Rate Buy-Down Loan
 
Mich. Guaranteed Loan up to $30,000 4.75% - 9.75% 1 - 7 years 100%
Interest Rate Buy-Down Loan
Minn. Revolving Loan $2,000 No maximum 2% - 4.75% 1 6 years 100%
Guaranteed Loan
 
Mo. Revolving Loan $500 - $10,000 2% - 4% No minimum 5 years n/a
Neb. Guaranteed/Interest Rate Buy-Down Loan $1,500 - $50,000 2.75% - 6.25% 2 - 10 years 25% - 100%
Nev. Guaranteed Loan Up to - $20,000 Prime - 8.67% Up to 7 years 50%
N.M. Guaranteed Loan, $500 to $20,000 CD rate plus 2% 1/2 - 15 years 100%
N.D. Guaranteed Loan $500 - $50,000 1% under Prime - Prime 1-7 years 100%
C.N.M.I. Guaranteed Loan $200 - $20,000 8% 1 7 years 100%
Okla. Guaranteed/Interest Rate Buy-Down Loan, No minimum - No maximum 5% up to 5 years 100%
Non-Guaranteed Low Interest Loan
 
Pa. Revolving Loans, $100 - $60,000 0% - 6% up to 10 years 100%
Interest Rate Buy-Down Loan;
Guaranteed/Interest Rate Buy-Down Loan
 
S.C. Guaranteed Loan, $500 - $30,000 5% - 12% 1/2 - 7 years 33% - 100%
Non-guaranteed Low Interest Loan
 
V.I. Interest Rate Buy-Down Loan $300 - $15,000 4% 1 - 5 years 100%
Utah Guaranteed Loan, $500 - $55,000 2.5% - 5.71% 2 - 5 years 0% -100%
Interest Rate Buy-Down Loan,
Guaranteed/Interest Rate Buy Down Loan,
Non Guaranteed Low Interest Loan
 
Vt. Interest Rate Buy Down Loan $300 $50,000 3% - 8% 1/2 - 15 years 100%
Va. Revolving Loan, No minimum No maximum Prime minus 4% - 5% 3 - 10 years 30%
Guaranteed Loan,
Interest Rate Buy-Down Loan,
Guaranteed/Interest Rate Buy Down,
Non Guaranteed Low Interest Loan
Wash. Revolving Loan $250 - $10,000 4.75% - 6.00% up to 5 years n/a
Wis. Guaranteed Loan $1,000 - $50,000 6.50% 1 - 10 years 0%
Wyo. Guaranteed Loan, $500 - $25,000 Prime up to 6 years n/a
Interest Rate Buy-Down Loan
 
   
Source: AFP Program Data FY 2008

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