Home Mortgage Interest Rate
Is it legal to charge 14% interest on a home mortgage?
I used a private investor to buy a property. They charged me 14% fixed rate @ 24 months, the interest alone. This is our primary residence, not an investment property and I needed to arrange funding within a few day, and it is the only choice I had. Is it legal to charge that much of the interest rate in Texas?
Yes, quite legally. You have every right to pay 14% interest, if you want. The government can not deny you the right to borrow money as you wish. Personally I would make a second choice, but you are welcome to accept this if you will, you will not be breaking any laws.