46:10B-14 - Use for dwelling units; limits on interest - New Jersey Statutes

46:10B-14.  Use for dwelling units;  limits on interest
    Graduated payment mortgages may be secured only by real estate on which there is erected or to be erected a structure containing one, two, three, four,  five, or six dwelling units, a portion of which structure may be used for  non-residential purposes, and interest thereon shall not exceed the usury rate  established pursuant to R.S. 31:1-1 at any time during the term of the mortgage.

     L.1979, c. 139, s. 3, eff. July 6, 1979.