Wisconsin Administrative Code
Department of Financial Institutions
DFI-CU 51-75 - Department of Financial Institutions-Credit Unions
Chapter DFI-CU 54 - Real Estate Mortgage Loans
Section DFI-CU 54.03 - Limitations on real estate mortgage loans
Current through February 26, 2024
A credit union may grant purchase money and equity mortgage loans to members secured with real estate, subject to the following limitations:
(1) Purchase money loans, excluding amounts financed for accident, health and credit life insurance premiums, may not exceed 90% of the market value of the subject real estate except if:
(2) Equity loans, excluding amounts financed for accident, health and credit life insurance premiums, may not exceed the borrower's equity in the subject real estate, except to the extent the excess is secured by other collateral, the value of which can be supported by authoritative evidence.
(3) The term of a mortgage loan may not exceed 30 years commencing the latter of:
(4) For good cause shown, the director may waive any limitations of this section.