---
kind: "section"
citation: "7 C.F.R. § 3555.253"
title: "7"
number: "3555.253"
heading: "Late payment charges."
url: "https://uscodex.org/cfr/7/3555.253"
---

# §3555.253. Late payment charges.


Late payment charges will not be covered by the guarantee and cannot be added to the principal and interest due under any guaranteed note.

- (a) **Maximum amount.** Any late payment charge must be reasonable and customary for the area.
- (b) **Loans with interest assistance.** The lender must not charge a late fee if the only unpaid portion of the borrower's scheduled payment is interest assistance owed by Rural Development.

## Notes

### Authority

Authority: 5 U.S.C. 301; 42 U.S.C. 1471 et seq.

### Source

Source: 78 FR 73941, December 9, 2013, unless otherwise noted.