{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1183.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1183.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1183.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1183.html"}],"law_id":373709,"edition_id":2,"section_id":373709,"structure_id":53172,"section_number":"6.2-1183","catch_line":"Special provisions for home loans","history":"1985, c. 425, \u00a7 6.1-194.66; 1991, c. 230, \u00a7 6.1-194.151; 2010, c. 794.","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.\n\n","order_by":null,"text":{"0":{"id":1394726,"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53172,"edition_id":2,"name":"Real Estate Loans","identifier":"7","label":"article","depth":4,"order_by":7,"parent_id":53165,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 03:12:05","date_modified":"2026-08-02 12:28:03","permalink":{"id":1491433,"object_type":"structure","relational_id":53172,"identifier":"7","token":"6.2\/II\/11\/7","url":"\/6.2\/II\/11\/7\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53165,"edition_id":2,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":5,"parent_id":53156,"metadata":{"child_laws":106,"child_structures":9},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491103,"object_type":"structure","relational_id":53165,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373705,"structure_id":53172,"section_number":"6.2-1179","catch_line":"Real estate loans; required investment","url":"\/6.2-1179\/","token":"6.2\/II\/11\/7\/6.2-1179","metadata":false},{"id":373706,"structure_id":53172,"section_number":"6.2-1180","catch_line":"Appraisals; loan-to-value ratios","url":"\/6.2-1180\/","token":"6.2\/II\/11\/7\/6.2-1180","metadata":false},{"id":373707,"structure_id":53172,"section_number":"6.2-1181","catch_line":"Initial repayments on real estate loans","url":"\/6.2-1181\/","token":"6.2\/II\/11\/7\/6.2-1181","metadata":false},{"id":373708,"structure_id":53172,"section_number":"6.2-1182","catch_line":"Adjustable real estate loans","url":"\/6.2-1182\/","token":"6.2\/II\/11\/7\/6.2-1182","metadata":false},{"id":373709,"structure_id":53172,"section_number":"6.2-1183","catch_line":"Special provisions for home loans","url":"\/6.2-1183\/","token":"6.2\/II\/11\/7\/6.2-1183","metadata":false},{"id":373710,"structure_id":53172,"section_number":"6.2-1184","catch_line":"Dealing with successors in interest","url":"\/6.2-1184\/","token":"6.2\/II\/11\/7\/6.2-1184","metadata":false},{"id":373711,"structure_id":53172,"section_number":"6.2-1185","catch_line":"Trustees on loans secured by deed of trust","url":"\/6.2-1185\/","token":"6.2\/II\/11\/7\/6.2-1185","metadata":false}],"previous_section":{"id":373708,"structure_id":53172,"section_number":"6.2-1182","catch_line":"Adjustable real estate loans","url":"\/6.2-1182\/","token":"6.2\/II\/11\/7\/6.2-1182","metadata":false},"next_section":{"id":373710,"structure_id":53172,"section_number":"6.2-1184","catch_line":"Dealing with successors in interest","url":"\/6.2-1184\/","token":"6.2\/II\/11\/7\/6.2-1184","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1183\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 425 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 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. 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. Those modifications are as follows: in 1991, chapter 230; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1491451,"object_type":"law","relational_id":373709,"identifier":"6.2-1183","token":"6.2\/II\/11\/7\/6.2-1183","url":"\/6.2-1183\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1183\/","token":"6.2\/II\/11\/7\/6.2-1183","dublin_core":{"Title":"Special provisions for home loans","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1183","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The loan term of a home loan<\/span> 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<\/span> may provide for the deferral of principal and capitalization of a portion of interest, or of all interest on loans to natural persons<\/span> secured by borrower-occupied property and on which periodic advances are being made.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSPECIAL PROVISIONS FOR HOME LOANS (\u00a7 6.2-1183)\n\nThe loan term of a home loan shall not exceed 40 years, with interest payable at\nleast semiannually, except as expressly authorized elsewhere in this chapter.\nPayments on the loan balance, for other than nonamortized and line-of-credit\nloans, shall be made in at least semiannual installments, except that loans made\non the security of farm residences and combinations of farm residences and\ncommercial farm real estate may be repayable in annual installments. The loan\nmay be fully amortized, partially amortized, nonamortized, or a line-of-credit\nloan. The loan contract may provide for the deferral of principal and\ncapitalization of a portion of interest, or of all interest on loans to natural\npersons secured by borrower-occupied property and on which periodic advances are\nbeing made.\n\nHISTORY: 1985, c. 425, \u00a7 6.1-194.66; 1991, c. 230, \u00a7 6.1-194.151; 2010, c.\n794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}