Second Mortgage > $1,500 Subordinate ≤ 1½% a month on unpaid balances MASS. GEN. LAWS ANN. Loans with ch. 140, § (West assessed 2012) value ≤ $40,000 Michigan Federally Related Any First Exempt from state limitations 1981 Mich. Op. Att'y Mortgage Loans Gen. , & 1981 Mich. Op. Att'y Gen. First Mortgage Any First Increase in initial interest rate prohibited MICH. COMP. LAWS Loan ANN. § (West 2012) Loan Any Any ≤ 25% simple interest per annum MICH. COMP. LAWS ANN. § (West 2012) Second Lien Loan Any Second ≤ 25% computed by the actuarial method MICH. COMP. LAWS by a Regulated ANN. § (West 2012) Lender Purchase Money Any Any ≤ 11% per annum MICH. COMP. LAWS Mortgage or ANN. § (West 2012) Second Mortgage Minnesota Federally Related Any First Subject to state law limitations MINN. STAT. ANN. § Mortgage Loans (West 2012) First Lien Any First As contracted for MINN. STAT. ANN. § Mortgage Loans (West 2012) Mortgage ≥ $100,000 Any As contracted for MINN. STAT. ANN. § (West 2012) Conventional < $100,000 Any ≤ 4% points + Fannie Mae posted yields on 30-year MINN. STAT. ANN. § Loan mortgage commitments for delivery within 60 days (West 2012) on standard conventional fixed-rate mortgages published in The Wall Street Journal for the last business day of the second preceding month
Second Mortgage Loans > $1,500 with assessed value ≤ $40,000 Subordinate ≤ 1½% a month on unpaid balances MASS. GEN. LAWS ANN. ch. 140, § (West 2012) Michigan Federally Related Mortgage Loans Any First Exempt from state limitations 1981 Mich. Op. Att'y Gen. , & 1981 Mich. Op. Att'y Gen. First Mortgage Loan Any First Increase in initial interest rate prohibited MICH. COMP. LAWS ANN. § (West 2012) Loan Any Any ≤ 25% simple interest per annum MICH. COMP. LAWS ANN. § (West 2012) Second Lien Loan by a Regulated Lender Any Second ≤ 25% computed by the actuarial method MICH. COMP. LAWS ANN. § (West 2012) Purchase Money Mortgage or Second Mortgage Any Any ≤ 11% per annum MICH. COMP. LAWS ANN. § (West 2012) Minnesota Federally Related Mortgage Loans Any First Subject to state law limitations MINN. STAT. ANN. § (West 2012) First Lien Mortgage Loans Any First As contracted for MINN. STAT. ANN. § (West 2012) Mortgage ≥ $100,000 Any As contracted for MINN. STAT. ANN. § (West 2012) Conventional Loan < $100,000 Any ≤ 4% points + Fannie Mae posted yields on 30-year mortgage commitments for delivery within 60 days on standard conventional fixed-rate mortgages published in The Wall Street Journal for the last business day of the second preceding month MINN. STAT. ANN. § (West 2012)