Hi, we are not located in North Carolina but are contemplating doing a loan in NC. I'm hoping someone more familiar with NC law can help me understand what N.C. Gen. Stat. Ann. § 45-43 is trying to say.

Does this apply to a conventional 30 year GSE mortgage loan? If so, it seems to restrict term loans to 15 years and total fees to 1.5% of the principal.

Any assistance is appreciated. Thank you.

I believe the above only applies to real estate mortgage loan commissions, not fees associated with a bank making a mortgage loan.

I sent you a private message when you first posted this, and it shows to be unread.