The road was built with mortgages from New York, Boston, and London, backed by land grants. There were no federal cash subsidies, But there was a loan to the Central Pacific that was eventually repaid at six percent interest. The federal government offered land-grants in a checkerboard pattern. The railroad sold every-other square, with the government opening its half to homesteaders. The government also loaned money—later repaid—at $16,000 per mile on level stretches, and $32,000 to $48,000 in mountainous terrain. Local and state governments also aided the financing.