Code of Virginia (Last Updated:July 28, 2020) |
TITLE 6.2. Financial Institutions and Services |
SUBTITLE I. General Provisions |
CHAPTER 4. Certain Lending Practices |
ARTICLE 2. Loans Secured By Lien on Real Estate |
SECTION 6.2-422. Prepayment penalty for loan secured by home occupied by borrower |
The prepayment penalty in the case of a loan secured by a mortgage or deed of trust on a home that is occupied or to be occupied in whole or in part by a borrower shall not exceed two percent of the amount of such prepayment. 1987, c. 622, § 6.1-330.83; 2010, c. 794 . |