Posted by Craig on May 21, 2000 at 16:30:56:
That’s the same in most states. Mortgage lending and consumer lending(which is what credit cards fall under) laws differ in each state. Another way to spruce up your yield and make more on a mortgage loan is to buy the property low and sell higher and carry the mortgage. In these situations effectually make your points in the profit spread of the sale of the home, while still keeping the actual interest rate, and APR, within the bounds of the law. You are making those “points” from the seller of the home, as in buying preexisting mortgage for a discount.