Minnesota § 52.165 GRADUATED PAYMENT HOME LOAN

Minnesota Statutes

§ 52.165 — GRADUATED PAYMENT HOME LOAN

Minnesota § 52.165

PartBANKING

Ch. 52CREDIT UNIONS

This text of Minnesota § 52.165 (GRADUATED PAYMENT HOME LOAN) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 52.165 (2026).

Text

Subdivision 1.Definition.
As used in this section, "graduated payment home loan" means a real estate loan made pursuant to section52.16, whereunder initial periodic repayments are lower than those under the standard real estate loan having equal periodic repayments, and gradually rise to a predetermined point after which they remain constant.

Subd. 2.Authorization.
Notwithstanding the provisions of section334.01, subdivision 1, and subject to the provisions of section47.201, subdivisions 4 to 6, a credit union may make graduated payment home loans and purchases representing graduated payment home loans pursuant to such rules as the commissioner of commerce finds to be necessary and proper, if any, at an interest rate not in excess of the rate prescribed in section52.14. Notwithstanding t

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Subdivision 1.Definition.
As used in this section, "graduated payment home loan" means a real estate loan made pursuant to section52.16, whereunder initial periodic repayments are lower than those under the standard real estate loan having equal periodic repayments, and gradually rise to a predetermined point after which they remain constant.

Subd. 2.Authorization.
Notwithstanding the provisions of section334.01, subdivision 1, and subject to the provisions of section47.201, subdivisions 4 to 6, a credit union may make graduated payment home loans and purchases representing graduated payment home loans pursuant to such rules as the commissioner of commerce finds to be necessary and proper, if any, at an interest rate not in excess of the rate prescribed in section52.14. Notwithstanding the provisions of section334.01, subdivision 1, where initial repayments of a graduated payment home loan are less than the total accrued outstanding interest, the excess accrued and unpaid interest may be added to the outstanding loan balance on which interest accrues at the contracted rate.