The term of a loan shall be:
The shortest appropriate term, depending upon the Borrower's ability to repay;
Ten years or less, unless it finances or refinances real estate or equipment with a useful life exceeding ten years; and
A maximum of 25 years, including extensions. (A portion of a loan used to acquire or improve real property may have a term of 25 years plus an additional period needed to complete the construction or improvements.)
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