§ 51056 Loan Charge And Amount Limits

• •This law is about loans for building, buying, or fixing up property.
• •There are limits on how much interest and fees can be charged for these loans.
• •There is a maximum amount you can borrow for these types of loans.
• •The rules are there to make sure loans are fair and helpful for what they're meant for.

You want to take out a loan to build a new house.

The bank can't charge you super high interest or fees because this law sets limits to keep it fair. Also, there's a maximum amount you can borrow, so you can't take out a loan that's way too big for what you need.