{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-325.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-325.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-325.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-325.html"}],"law_id":81140,"edition_id":1,"section_id":81140,"structure_id":13915,"section_number":"6.2-325","catch_line":"Certain loans secured by first deed of trust or mortgage","history":"1987, c. 622, \u00a7 6.1-330.69; 2010, c. 794.","full_text":"A\n\nAs used in this section, “real estate” includes a leasehold estate of not less than 25 years.B\n\nNotwithstanding the provisions of any law relating to interest or usury, contracts made for the loan of money, secured or to be secured by a first deed of trust or first mortgage on real estate, or by a first priority security interest in the stock of a residential cooperative housing corporation, may be enforced as agreed in the contract of indebtedness or other agreement signed by the borrower.C\n\nFor the purpose of this section, an interest rate which varies in accordance with any exterior standard, or which cannot be ascertained from the contract without reference to any exterior circumstances or documents, shall be enforceable as agreed in the contract of indebtedness or other signed agreement.D\n\nDisclosure of charges in a disclosure given to the borrower pursuant to federal disclosure laws or regulations and acceptance of the loan proceeds by the borrower shall be deemed an agreement signed by the borrower within the meaning of this section.","order_by":null,"text":{"0":{"id":290811,"text":"As used in this section, “real estate” includes a leasehold estate of not less than 25 years.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":290812,"text":"Notwithstanding the provisions of any law relating to interest or usury, contracts made for the loan of money, secured or to be secured by a first deed of trust or first mortgage on real estate, or by a first priority security interest in the stock of a residential cooperative housing corporation, may be enforced as agreed in the contract of indebtedness or other agreement signed by the borrower.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":290813,"text":"For the purpose of this section, an interest rate which varies in accordance with any exterior standard, or which cannot be ascertained from the contract without reference to any exterior circumstances or documents, shall be enforceable as agreed in the contract of indebtedness or other signed agreement.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":290814,"text":"Disclosure of charges in a disclosure given to the borrower pursuant to federal disclosure laws or regulations and acceptance of the loan proceeds by the borrower shall be deemed an agreement signed by the borrower within the meaning of this section.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13915,"edition_id":1,"name":"Loans Exempt From Limit on Contract Rate of Interest","identifier":"4","label":"article","depth":4,"order_by":1,"parent_id":13814,"metadata":{},"date_created":"2026-06-26 03:46:17","date_modified":"2026-06-26 03:46:17","permalink":{"id":263377,"object_type":"structure","relational_id":13915,"identifier":"4","token":"6.2\/I\/3\/4","url":"\/6.2\/I\/3\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13814,"edition_id":1,"name":"Interest and Usury","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:45:57","date_modified":"2026-06-26 03:45:57","permalink":{"id":263333,"object_type":"structure","relational_id":13814,"identifier":"3","token":"6.2\/I\/3","url":"\/6.2\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":64100,"structure_id":13915,"section_number":"6.2-309","catch_line":"Charges by banks and savings institutions on installment loans","url":"\/6.2-309\/","token":"6.2\/I\/3\/4\/6.2-309","metadata":false},{"id":77440,"structure_id":13915,"section_number":"6.2-310","catch_line":"Rate of interest chargeable by state banks and savings institutions","url":"\/6.2-310\/","token":"6.2\/I\/3\/4\/6.2-310","metadata":false},{"id":68100,"structure_id":13915,"section_number":"6.2-311","catch_line":"Closed-end installment loans by sellers of goods or services","url":"\/6.2-311\/","token":"6.2\/I\/3\/4\/6.2-311","metadata":false},{"id":71317,"structure_id":13915,"section_number":"6.2-312","catch_line":"Open-end credit plans","url":"\/6.2-312\/","token":"6.2\/I\/3\/4\/6.2-312","metadata":false},{"id":71741,"structure_id":13915,"section_number":"6.2-313","catch_line":"Open-end credit extended by banks or savings institutions","url":"\/6.2-313\/","token":"6.2\/I\/3\/4\/6.2-313","metadata":false},{"id":55614,"structure_id":13915,"section_number":"6.2-314","catch_line":"Motor vehicle purchase loans by subsidiaries and affiliates of banks and savings institutions","url":"\/6.2-314\/","token":"6.2\/I\/3\/4\/6.2-314","metadata":false},{"id":57088,"structure_id":13915,"section_number":"6.2-315","catch_line":"Loans by certain financial institutions or brokers payable on demand or having a term up to one year","url":"\/6.2-315\/","token":"6.2\/I\/3\/4\/6.2-315","metadata":false},{"id":80987,"structure_id":13915,"section_number":"6.2-316","catch_line":"Loans of $5,000 or more made by certain financial institutions","url":"\/6.2-316\/","token":"6.2\/I\/3\/4\/6.2-316","metadata":false},{"id":69996,"structure_id":13915,"section_number":"6.2-317","catch_line":"Loans of $5,000 or more for business or investment purposes","url":"\/6.2-317\/","token":"6.2\/I\/3\/4\/6.2-317","metadata":false},{"id":86413,"structure_id":13915,"section_number":"6.2-318","catch_line":"Loans by credit unions","url":"\/6.2-318\/","token":"6.2\/I\/3\/4\/6.2-318","metadata":false},{"id":73942,"structure_id":13915,"section_number":"6.2-319","catch_line":"Loans by pension plans to participants","url":"\/6.2-319\/","token":"6.2\/I\/3\/4\/6.2-319","metadata":false},{"id":80507,"structure_id":13915,"section_number":"6.2-320","catch_line":"Loans by industrial loan associations","url":"\/6.2-320\/","token":"6.2\/I\/3\/4\/6.2-320","metadata":false},{"id":63304,"structure_id":13915,"section_number":"6.2-321","catch_line":"Loans pursuant to stock option financing programs","url":"\/6.2-321\/","token":"6.2\/I\/3\/4\/6.2-321","metadata":false},{"id":59573,"structure_id":13915,"section_number":"6.2-322","catch_line":"Extensions of credit on pledged securities","url":"\/6.2-322\/","token":"6.2\/I\/3\/4\/6.2-322","metadata":false},{"id":54963,"structure_id":13915,"section_number":"6.2-323","catch_line":"Educational loans by banks or savings institutions","url":"\/6.2-323\/","token":"6.2\/I\/3\/4\/6.2-323","metadata":false},{"id":77770,"structure_id":13915,"section_number":"6.2-324","catch_line":"Educational loans by private institution of higher education","url":"\/6.2-324\/","token":"6.2\/I\/3\/4\/6.2-324","metadata":false},{"id":81140,"structure_id":13915,"section_number":"6.2-325","catch_line":"Certain loans secured by first deed of trust or mortgage","url":"\/6.2-325\/","token":"6.2\/I\/3\/4\/6.2-325","metadata":false},{"id":57847,"structure_id":13915,"section_number":"6.2-326","catch_line":"Fees and charges in connection with loans by real estate lenders","url":"\/6.2-326\/","token":"6.2\/I\/3\/4\/6.2-326","metadata":false},{"id":66025,"structure_id":13915,"section_number":"6.2-327","catch_line":"Certain loans secured by a subordinate deed of trust or mortgage","url":"\/6.2-327\/","token":"6.2\/I\/3\/4\/6.2-327","metadata":false},{"id":55296,"structure_id":13915,"section_number":"6.2-328","catch_line":"Charges allowed on loan secured by subordinate mortgage","url":"\/6.2-328\/","token":"6.2\/I\/3\/4\/6.2-328","metadata":false},{"id":71049,"structure_id":13915,"section_number":"6.2-329","catch_line":"Loans insured or guaranteed by certain governmental agencies","url":"\/6.2-329\/","token":"6.2\/I\/3\/4\/6.2-329","metadata":false}],"previous_section":{"id":77770,"structure_id":13915,"section_number":"6.2-324","catch_line":"Educational loans by private institution of higher education","url":"\/6.2-324\/","token":"6.2\/I\/3\/4\/6.2-324","metadata":false},"next_section":{"id":57847,"structure_id":13915,"section_number":"6.2-326","catch_line":"Fees and charges in connection with loans by real estate lenders","url":"\/6.2-326\/","token":"6.2\/I\/3\/4\/6.2-326","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-325\/","history_text":"

This law was first created in 1987. The record of its establishment is cataloged in chapter 622 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1987 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2010, chapter 794<\/a>.<\/p>","references":[{"id":78551,"section_number":"6.2-1501","catch_line":"Compliance with chapter; license required; attempts to evade application of chapter","order_by":null,"url":"\/6.2-1501\/"},{"id":57847,"section_number":"6.2-326","catch_line":"Fees and charges in connection with loans by real estate lenders","order_by":null,"url":"\/6.2-326\/"}],"refers_to":false,"permalink":{"id":263443,"object_type":"law","relational_id":81140,"identifier":"6.2-325","token":"6.2\/I\/3\/4\/6.2-325","url":"\/6.2-325\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-325\/","token":"6.2\/I\/3\/4\/6.2-325","dublin_core":{"Title":"Certain loans secured by first deed of trust or mortgage","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-325","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section, “real estate<\/span>” includes a leasehold estate of not less than 25 years. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding the provisions of any law<\/span> relating to interest or usury, contracts<\/span> made for the loan<\/span> of money, secured or to be secured by a first deed of trust<\/span> or first mortgage<\/span> on real estate<\/span>, or by a first priority security interest in the stock of a residential cooperative housing corporation, may be enforced as agreed in the contract<\/span> of indebtedness or other agreement signed by the borrower. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> For the purpose of this section, an interest rate which varies in accordance with any exterior standard, or which cannot be ascertained from the contract<\/span> without reference to any exterior circumstances or documents, shall be enforceable as agreed in the contract<\/span> of indebtedness or other signed agreement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Disclosure of charges in a disclosure given to the borrower pursuant to federal disclosure laws<\/span> or regulations and acceptance of the loan<\/span> proceeds by the borrower shall be deemed an agreement signed by the borrower within the meaning of this section. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCERTAIN LOANS SECURED BY FIRST DEED OF TRUST OR MORTGAGE (\u00a7 6.2-325)\n\nA. As used in this section, “real estate” includes a leasehold\nestate of not less than 25 years.\n\nB. Notwithstanding the provisions of any law relating to interest or usury,\ncontracts made for the loan of money, secured or to be secured by a first deed\nof trust or first mortgage on real estate, or by a first priority security\ninterest in the stock of a residential cooperative housing corporation, may be\nenforced as agreed in the contract of indebtedness or other agreement signed by\nthe borrower.\n\nC. For the purpose of this section, an interest rate which varies in accordance\nwith any exterior standard, or which cannot be ascertained from the contract\nwithout reference to any exterior circumstances or documents, shall be\nenforceable as agreed in the contract of indebtedness or other signed agreement.\n\nD. Disclosure of charges in a disclosure given to the borrower pursuant to\nfederal disclosure laws or regulations and acceptance of the loan proceeds by\nthe borrower shall be deemed an agreement signed by the borrower within the\nmeaning of this section.\n\nHISTORY: 1987, c. 622, \u00a7 6.1-330.69; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}