Se autoriza al Departamento de la Vivienda a conceder subsidios sobre intereses y garantizar hipotecas a treinta (30) años, sobre viviendas en proyectos que a la vigencia de esta ley hayan sido aprobadas por la Administración de Hogares de Agricultores de Estados Unidos (Farmers Home Administration, FmHA) y por el Departamento de la Vivienda, hasta un máximo de 3,000 unidades, cuando la referida Agencia Federal no pueda financiar las hipotecas y subsidiar parcialmente los intereses de los préstamos hipotecarios bajo las disposiciones de la Sección 502 de la Ley Federal de la Vivienda.
El Secretario de la Vivienda adoptará las guías correspondientes para impartir su aprobación a las unidades o proyectos de vivienda a los cuales se les concederá compromisos condicionales (conditional commitments) para que los promotores y constructores, utilizando como respaldo el subsidio estatal que autorizan las secs. 851 a 856 de este título y la garantía hipotecaria autorizada por las secs. 261 a 271a del Título 7, puedan gestionar financiamiento permanente en la banca o en instituciones financieras.
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