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Company Loan Type APR Est. Pmt.

tex usuary law

Posted on: 16th Nov, 2006 08:40 am
What is max legal interest on a consumer personal loan of $68000.00 for one year? (Texas)

From what I have seen the rates you can get will be in the region of 12-13%.
Posted on: 16th Nov, 2006 11:21 am
Hi Ralos,

Instead of personal loans if you have question about mortgage loans then I shall be able to help you better with the required information.

Posted on: 16th Nov, 2006 01:05 pm
What's the maximum rate under usuary laws in California?
Posted on: 17th Jan, 2007 01:29 pm
In California the rate is 10% for a loan for household or personal purpose.

Posted on: 17th Jan, 2007 02:09 pm
One more thing; if the loan is for house purchase or its improvement then it is not regarded as taken for personal purpose.

For such type of loans the rate is higher of the two - ten percent or five percent greater than the amount charged by FRBSF (Federal Reserve Bank of San Francisco) for advances to its member banks.

Posted on: 17th Jan, 2007 02:21 pm
Welcome Oscar.

Usury in California is prohibited by the state laws.

The state law sets the maximum interest rate at 10% per year for any loan used for personal, family and household requirements.
Posted on: 18th Jan, 2007 01:49 am
What is the maximun interest rate and points that can be charged for
refinancing a new 2nd trust deed for 5 years in California
Posted on: 24th Jan, 2007 08:19 am
Welcome Rayman.

The maximum rate of interest charged for refinancing a second trust deed in California is 10%. The number of points will vary from one lender to another.
Posted on: 24th Jan, 2007 08:40 pm
Thank you for your previous answer on max. int. in calif.

Is there. by law, a maximum amount of points that can be charged
on placing a second trust deed on a personal residence in Calif.
Posted on: 25th Jan, 2007 06:32 am
The maximum discount points on FHA loan in California is 4.
Posted on: 26th Jan, 2007 02:02 am
Posted on: 02nd Sep, 2008 06:03 pm
Hi javier,

Welcome to forums.

Most states in US do not have prevailing commercial usury laws for commercial loans. Only 5 states offer a cap on the interest rates for these loans. In case of California, as per usury laws on commercial loans, the interest rate charged on a loan or forbearance should not exceed 5% per annum plus the rate available on the 25th day of the month.

Posted on: 05th Sep, 2008 12:07 am
opened business line of credit 2 years ago with Advanta Bank Corp.Was never late and always paid billed amount.They increased rate to 36%.They tell me there is nothing I can do about it.This can not be legal.I live in California
Posted on: 12th Feb, 2009 08:45 am
Hey Thomas,

As a borrower you have the right to know why they have raised the rates. Why don't you consult an attorney in this regard? He will deal with the lender in this regard and also help you in taking the right steps.
Posted on: 12th Feb, 2009 10:28 pm
charge is 7% on300000 payable in60 months
Posted on: 11th Mar, 2010 10:16 am
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