Consumer Loans (other than supervised loans) Subordinate ≤ $75,000 or secured by interest in land but value of collateral insubstantial in relation to loan amount at time loan is made ≤ 12% per year (finance charge limitation) COLO. REV. STAT. § (West 2012) Connecticut Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Mortgage Loan ≤ $5,000 Any ≤ 12% per annum CONN. GEN. STAT. ANN. §§ , & (West 2012) Mortgage Loan > $5,000 Any As contracted for CONN. GEN. STAT. ANN. § (West 2012) Delaware Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Revolving Credit Plan, or Loan Any Any As contracted for DEL. CODE. ANN. tit. 5, §§ , (West 2012) District of Columbia Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Contract for payment of money at a future time Any None ≤ 24% per annum D.C. CODE § (2012)
Hawaii Federally Related Mortgage Loans Any First Subject to state law limitations HAW. REV. STAT. § (West 2012) Consumer Credit Transaction Any Second ≤ 1% simple interest per month, or ≤ 12% simple interest per year But see § 478-8 for exceptions to this limitation HAW. REV. STAT. § (West 2012) Consumer Credit Transaction ≤ $250,000 None ≤ 1% simple interest per month, or ≤ 12% simple interest per year But see § 478-8 for exceptions to this limitation HAW. REV. STAT. § (West 2012) Home Business Loan ≤ $250,000 Second ≤ 1% simple interest per month, or ≤ 12% simple interest per year But see § 478-8 for exceptions to this limitation HAW. REV. STAT. § (West 2012) Consumer Credit Transaction by a Financial Institution regulated under Chapter 412 Any Any ≤ 2% simple interest per month, or ≤ 24% simple interest per year HAW. REV. STAT. § (West 2012) Simple Interest Loan by a Financial Services Loan Company Any Any ≤ 24% per year HAW. REV. STAT. § (West 2012) Precomputed Loan by a Financial Services Loan Company with maturity ≤ 48 months Any Any ≤ 24% per year HAW. REV. STAT. § (West 2012) Precomputed Loan by a Financial Services Loan Company Any Any ≤ 14% a year for 1st 18 months + 10.5% per year for the next 12 months + 7% per year for the next 12 months + 4% per year for the last 6 months of loan term HAW. REV. STAT. § (West 2012)
Idaho Federally Related Mortgage Loans Any First Subject to state law limitations IDAHO CODE ANN. § (2012) Loan Any Any As contracted for IDAHO CODE ANN. § (2012) Illinois Federally Related Mortgage Loans Any First Exempt from state law limitations Reed v. World Wide Financial Services, Inc., 1998 WL 852854 (N.D. Ill. 1998); 1996 Ill. Att’y Gen. Op. Loan Any None ≤ 9% per annum for every $100 loaned 815 ILL. COMP. STAT. § (West 2012) Loan Any Any As contracted for 815 ILL. COMP. STAT. § (West 2012) Housing Renovation & Modernization Loan Any Any As contracted for 815 ILL. COMP. STAT. § (West 2012) Loan insured by National Housing Act Any Any As contracted for 815 ILL. COMP. STAT. § ) (West 2012) Loan guaranteed under Veterans’ Benefit Act Any Any As contracted for 815 ILL. COMP. STAT. § (West 2012) Loan made, guaranteed or insured in accordance with the provisions of the Housing Act of 1949 Any Any As contracted for 815 ILL. COMP. STAT. § (West 2012)
Iowa Federally Related Mortgage Loans Any First Subject to state law limitations 12 USCA §§ & 12 CFR §§ Loan to acquire or refinance real property Any Any As contracted for IOWA CODE ANN. § (West 2012) Loan to construct improvement on real property > $25,000 Any As contracted for IOWA CODE ANN. § (West 2012) HELOC Any Any ≤ 1¾% per month IOWA CODE ANN. § (West 2012) Kansas Federally Related Mortgage Loans Any First Subject to state law limitations KAN. STAT. ANN. § (West 2012) Loan where the interest rate, amortization schedule or term of loan are not permitted to be adjusted Any Any ≤ 15% per annum KAN. STAT. ANN. § (West 2012) Consumer Loan subject to the uniform consumer credit code Any Any ≤ 18% per annum (finance charge limitation) KAN. STAT. ANN. § (West 2012) Kentucky Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Loan > $15,000 Any As contracted for KY. REV. STAT. ANN. § (West 2012)
Adjustable Rate Mortgage Loan Any Any As contracted for LA. REV. STAT. ANN. §§ , & (2011) Revolving Loan Account Any Any (finance charge limitations) ≤ 36% per year for portion of unpaid principal ≤ $1,400; and ≤ 27% per year for portion of unpaid principal > $1,400 but ≤ $4,000; and ≤ 24% per year for portion of unpaid principal > $4,000 but ≤ $7,000; and ≤ 21% per year for portion of unpaid principal > $7,000 LA. REV. STAT. ANN. § (2011) Maine Federally Related Mortgage Loans Any First Subject to state law limitations ME. REV. STAT. ANN. tit. 9-A, § (2011) First Mortgage Loans Any First As contracted for. ME. REV. STAT. ANN. tit. 9-A, § (2011) Loan to finance or refinance acquisition of real estate or initial construction of dwelling Any Any As contracted for. ME. REV. STAT. ANN. tit. 9-A, § (2011) Second Mortgage Loans > $2,800 Second ≤ 18% ME. REV. STAT. ANN. tit. 9-A, § (2011) Maryland Federally Related Mortgage Loans Any First Exempt from state limitations 73 MD. Op. Att'y Gen. 144 (1988) Loan Any Any ≤ 6% simple interest per year on unpaid principal balance (unless otherwise provided by law) MD. CODE ANN., COM. LAW § (West 2012) Loan Any Any ≤ 8% simple interest per year on unpaid principal balance if there is a written agreement MD. CODE ANN., COM. LAW § (West 2012) First Mortgage Loan Any First As contracted for if conditions are met MD. CODE ANN., COM. LAW § (West 2012)
Second Mortgage Loans > $1,500 with assessed value ≤ $40,000 Subordinate ≤ 1½% a month on unpaid balances MASS. GEN. LAWS ANN. ch. 140, § (West 2012) Michigan Federally Related Mortgage Loans Any First Exempt from state limitations 1981 Mich. Op. Att'y Gen. , & 1981 Mich. Op. Att'y Gen. First Mortgage Loan Any First Increase in initial interest rate prohibited MICH. COMP. LAWS ANN. § (West 2012) Loan Any Any ≤ 25% simple interest per annum MICH. COMP. LAWS ANN. § (West 2012) Second Lien Loan by a Regulated Lender Any Second ≤ 25% computed by the actuarial method MICH. COMP. LAWS ANN. § (West 2012) Purchase Money Mortgage or Second Mortgage Any Any ≤ 11% per annum MICH. COMP. LAWS ANN. § (West 2012) Minnesota Federally Related Mortgage Loans Any First Subject to state law limitations MINN. STAT. ANN. § (West 2012) First Lien Mortgage Loans Any First As contracted for MINN. STAT. ANN. § (West 2012) Mortgage ≥ $100,000 Any As contracted for MINN. STAT. ANN. § (West 2012) Conventional Loan < $100,000 Any ≤ 4% points + Fannie Mae posted yields on 30-year mortgage commitments for delivery within 60 days on standard conventional fixed-rate mortgages published in The Wall Street Journal for the last business day of the second preceding month MINN. STAT. ANN. § (West 2012)
Conventional Loan with Maturity < 10 years < $100,000 Any Lesser of: 15.75%; or 3% points + Fannie Mae posted yields on 30-year mortgage commitments for delivery within 60 days on standard conventional fixed-rate mortgages published in The Wall Street Journal for the last business day of the preceding month MINN. STAT. ANN. § (West 2012) Loan by a lender licensed under the Minnesota Regulated Loan Act (MRLA) Any Any The greater of: (finance charge limitations) APR ≤ 21.75%; or The total of: 33% per year on part of unpaid balance ≤ $1,125; and 19% per year on part of unpaid balance > $1,125 MINN. STAT. ANN. § (West 2012) Reverse Mortgage Loan Any Any ≤ 4% points + Fannie Mae posted yields on 30-year mortgage commitments for delivery within 60 days on standard conventional fixed-rate mortgages published in The Wall Street Journal for the last business day of the second preceding month MINN. STAT. ANN. § (West 2012) Mississippi Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Loan > $2,000 Any As contracted for MISS. CODE ANN. § (West 2012) Loan Any Any The greater of: 10% per year; or 5% per year above the index of market yields of the Monthly 20-year Constant Maturity Index of Long Term United States Government Bond Yields MISS. CODE ANN. § (West 2012) Missouri Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§
First Mortgage Loans Any First The greater of: ≤ 10% per annum; or ≤ The Market Rate (when it exceeds 10%) MO. REV. STAT. § (West 2012) Second Mortgage Loans Any Second As contracted for MO. REV. STAT. § (West 2012) Montana Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Loan by a Regulated Lender Any Any Exempt from Montana’s interest & usury restrictions MONT. CODE ANN. § (2011) Loan not by a regulated lender Any Any The greater of: ≤ 15% ≤ 6% points per year above the prime rate published by the federal reserve system in its statistical release H.15 Selected Interest Rates for bank prime loans dated 3 business days prior to the execution of the agreement. MONT. CODE ANN. § (2011) Nebraska Federally Related Mortgage Loans Any First Subject to state law limitations NEB. REV. STAT. § (2012) Loan Any Any ≤ 16% per annum NEB. REV. STAT. §§ , & (2012) Loan by a Mortgage Banker Licensee or Registrant Any Any As contracted for NEB. REV. STAT. § 45- (2012)
Revolving Credit Loan by an Installment Loan Act Licensee < $7,500 Sum of loan and balances of all other liens do not exceed 100% appraised value of property Any ≤ 24% per annum on part of unpaid principal ≤ $1,000; and ≤ 21% per annum on part of unpaid principal > $1,000 NEB. REV. STAT. §§ , & (2012) Reverse Mortgage Loan Any Any As contracted for NEB. REV. STAT. §§ , & (2012) Nevada Federally Related Mortgage Loans Any First Subject to state law limitations NEV. REV. STAT. ANN. § (West 2011) Loan Any Any As contracted for NEV. REV. STAT. ANN. § (West 2011) New Hampshire Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Second Mortgage Loan Any Any As contracted for N.H. REV. STAT. ANN. § (2012) New Jersey Federally Related Mortgage Loans Any First Exempt from state law limitations 12 USCA §§ & 12 CFR §§ Closed-end, secondary mortgage loan by a Residential Mortgage Lender Any Subordinate As contracted for but ≤ 30% N.J. STAT. ANN. §§ , & (West 2012) Open-end, Secondary Mortgage Loan by a Residential Mortgage Lender Any Subordinate As contracted for but ≤ 30% N.J. STAT. ANN. §§ , & (2012)
Oklahoma Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§ Loan by a supervised Lender Any Any ≤ 21% per year (finance charge limitation) OKLA. STAT. ANN. tit. 14A, § (West 2012) Oregon Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§ Loan Any ≤ $50,000 The greater of: ≤ 12%; or ≤ 5% + discount rate on 90-day commercial paper in effect at Federal Reserve Bank in district where person making the loan is located. OR. REV. STAT. ANN. § (West 2012) Loan by a licensee of the Consumer Finance Act Any Any The greater of: (finance charge limitations) ≤ 36%; or ≤ 30% points + discount window primary credit rate OR. REV. STAT. ANN. § (West 2012) Pennsylvania Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§ Secondary Mortgage Loan Any Any ≤ 1.85% per month on unpaid principal balances 7 PA. CONS. STAT. ANN. § (West 2012) Open-End Loan Any Any ≤ 1.85% per month on unpaid principal balances 7 PA. CONS. STAT. ANN. §§ , & (West 2012) Residential Mortgage for Residential Real Property ≤ $234, 692 Any ≤ 2½% + Monthly Index of Long Term U.S. Government Bond Yields for the 2nd preceding calendar month, per annum rounded off to nearest quarter of one percent per annum 41 PA. CONS. STAT. ANN. § (West 2012) Rhode Island Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§
Mortgage Loan Any Subordinate ≤ 18% per year on the unpaid balance of the amount financed W. VA. CODE ANN. § (West 2013) Wisconsin Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§ Mortgage by a person not licensed under the Wisconsin Precomputed Loan Law ≤ $25,000 Any ≤ 18% per year WIS. STAT. ANN. § (West 2013) Wyoming Federally Related Mortgage Loans Any First Exempt from state limitations 12 USCA §§ & 12 CFR §§ Consumer loan other than a supervised loan ≤ $50,000 if unsecured Any ≤ 10% per year (finance charge limitation) WYO. STAT. ANN. § (West 2012)