We are interested in raising our loan fees on secured loans. I have found the statute for fees on loans less than $50,000.00 (Fl.stat. 658.49) and for fees/interest on loans over $500,000.00. However, I can not find an answer for the maximum allowable loan fee for loans between $50,000.00 and $499,999.99. Do these loans follow the lesser of $50.00 or 2% of the principal amount of the loan standard like loans not exceeding $50,000.00? Any guidance will be greatly appreciated. Thank you.

It depends on the interest rate. The maximum allowable rate for those mid range loans is 18%. If loan fees are charged, then the APR can't exceed 18% after a recalculation. Don't you just love all the ifs, ands, and buts of statutory language??

Would this be similar to an "origination fee"? Are there any differences for loans secured by real estate (such as HELOCs) or loans that are not? Thank you.