Good afternoon. The Applicable Federal Rate .. which varies depending upon the term of the loan...sets the lowest rate the IRS allows. This is posted monthly on the following website.... http://www.irs.gov/app/picklist/list/federalRates.html
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If I read the information you sent to me correctly. The sell of the land and building for the certified appraised value of $380,000, with a interest rate of 4.15% per annum over a 15 year period with a balloon at the end will comply with the IRS rules. Am I correct?