Ace the West Virginia Mortgage Law 2025 Quiz – Unlock Your Path to Success!

Question: 1 / 400

The maximum rate of finance charges that may be collected in a subordinate loan transaction is no more than:

10%

A The maximum rate of finance charges for a subordinate loan transaction refers to the percentage of interest and fees that can be charged on top of the initial loan amount. This rate is set to a maximum to protect borrowers from excessive charges and to ensure fair lending practices. Option B, C, and D all have higher percentages which would result in a greater financial burden for the borrower. Therefore, these options are incorrect as they do not align with the regulations for subordinate loan transactions.

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