Usury laws in Michigan limit interest rates on:
Audio Lesson
Duration: 2:19
Question & Answer
Review the question and all answer choices
All residential loans
Commercial loans only
Most residential mortgages are exempt from usury limits
Only FHA loans
Why is this correct?
Most residential mortgages in Michigan are exempt from usury limits, allowing market rates to prevail.
More Real Estate Financing Episodes
Continue learning with related audio lessons
Maryland recording requirements for mortgages include:
2:13 • 0 plays
Veteran uses Cal-Vet residential loan program with installment sales contract. Who gives deed to property?
2:42 • 0 plays
In Massachusetts, deficiency judgments after foreclosure:
2:48 • 0 plays
Foreclosure in Wisconsin is typically:
2:32 • 0 plays
Maryland's right of redemption is:
2:43 • 0 plays
Ready to Ace Your Real Estate Exam?
Access 2,499+ free podcast episodes covering all 11 exam topics.