State Codes and Statutes

Statutes > New-jersey > Title-46 > Section-46-10b > 46-10b-14

46:10B-14. Use for dwelling units; limits on interest
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.

State Codes and Statutes

Statutes > New-jersey > Title-46 > Section-46-10b > 46-10b-14

46:10B-14. Use for dwelling units; limits on interest
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.