New Jersey Statutes
§ 46:10B-14 — Use for dwelling units; limits on interest
New Jersey·Title 46 PROPERTY
Graduated payment mortgages may be secured only by real estate on which there is erected or to be erected a structure containing one, two, three, four, five, or six dwelling units, a portion of which structure may be used for non-residential purposes, and interest thereon shall not exceed the usury rate established pursuant to R.S. 31:1-1 at any time during the term of the mortgage. L.1979, c. 139, s. 3, eff. July 6, 1979.
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Nearby Sections
15
§ 46:10B-1
Definitions§ 46:10B-10
Interest rate; points§ 46:10B-11
Points; liability for receiving§ 46:10B-11.1
Discount points deemed interest on loan§ 46:10B-12
Graduated payment mortgage defined§ 46:10B-13
Authorization to make§ 46:10B-14
Use for dwelling units; limits on interest§ 46:10B-16
Short title§ 46:10B-17
Definitions§ 46:10B-21
Regulations