Va. Code § 6.2-1183
Special provisions for home loans
Virginia · Code of Virginia Title 6.2 — Financial Institutions and Services · Status: effective
Cite this
- Citation
- Va. Code § 6.2-1183, Special provisions for home loans, Virginia, version 1 as recorded 2026-09-27, yourstate.us, https://yourstate.us/provision/1397152
- Permanent ID
ys:prov:1397152@1- SHA-256
6dc82be4c57e45ab05fb3021ea98d2224067e89f65b0b2beb45dab898d7e3875
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
The loan term of a home loan shall not exceed 40 years, with interest payable at least semiannually, except as expressly authorized elsewhere in this chapter. Payments on the loan balance, for other than nonamortized and line-of-credit loans, shall be made in at least semiannual installments, except that loans made on the security of farm residences and combinations of farm residences and commercial farm real estate may be repayable in annual installments. The loan may be fully amortized, partially amortized, nonamortized, or a line-of-credit loan. The loan contract may provide for the deferral of principal and capitalization of a portion of interest, or of all interest on loans to natural persons secured by borrower-occupied property and on which periodic advances are being made.