{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-1180.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-1180.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-1180.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-1180.html"}],"law_id":373706,"edition_id":2,"section_id":373706,"structure_id":53172,"section_number":"6.2-1180","catch_line":"Appraisals; loan-to-value ratios","history":"1985, c. 425, \u00a7 6.1-194.63; 1991, c. 230, \u00a7 6.1-194.151; 2010, c. 794.","full_text":"A\n\nA savings institution may make a real estate loan only after a qualified person designated by the savings institution has submitted a signed appraisal of the security property, except that an insured or guaranteed loan may be made on the basis of a valuation of the security property furnished to the savings institution by the insuring or guaranteeing agency.\n\nB\n\nAt the time of origination, a real estate loan may not exceed 100 percent of the appraised fair market value of the security property. During the term of the loan, the loan-to-value ratio may increase above the maximum permissible percentage if the increase results from an adjustment authorized by § 6.2-1182. In the case of a home loan secured by borrower-occupied property, the loan balance may not exceed 125 percent of the original appraised value of the property during the term of the loan, unless the loan contract provides that the payment shall be adjusted at least once every five years, beginning no later than the 10th year of the loan, to a level sufficient to amortize the loan at the then-existing interest rate and loan balance for the remaining term of the loan. The 125 percent limitation shall not apply to that portion of a loan balance that is interest received in the form of a percentage of the appreciation in value of the security property.\n\n","order_by":null,"text":{"0":{"id":1394722,"text":"A savings institution may make a real estate loan only after a qualified person designated by the savings institution has submitted a signed appraisal of the security property, except that an insured or guaranteed loan may be made on the basis of a valuation of the security property furnished to the savings institution by the insuring or guaranteeing agency.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1394723,"text":"At the time of origination, a real estate loan may not exceed 100 percent of the appraised fair market value of the security property. During the term of the loan, the loan-to-value ratio may increase above the maximum permissible percentage if the increase results from an adjustment authorized by § 6.2-1182. In the case of a home loan secured by borrower-occupied property, the loan balance may not exceed 125 percent of the original appraised value of the property during the term of the loan, unless the loan contract provides that the payment shall be adjusted at least once every five years, beginning no later than the 10th year of the loan, to a level sufficient to amortize the loan at the then-existing interest rate and loan balance for the remaining term of the loan. The 125 percent limitation shall not apply to that portion of a loan balance that is interest received in the form of a percentage of the appreciation in value of the security property.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":53172,"edition_id":2,"name":"Real Estate Loans","identifier":"7","label":"article","depth":4,"order_by":7,"parent_id":53165,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 03:12:05","date_modified":"2026-08-02 12:28:03","permalink":{"id":1491433,"object_type":"structure","relational_id":53172,"identifier":"7","token":"6.2\/II\/11\/7","url":"\/6.2\/II\/11\/7\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53165,"edition_id":2,"name":"Savings Institutions","identifier":"11","label":"chapter","depth":3,"order_by":5,"parent_id":53156,"metadata":{"child_laws":106,"child_structures":9},"date_created":"2026-08-02 03:11:54","date_modified":"2026-08-02 12:28:02","permalink":{"id":1491103,"object_type":"structure","relational_id":53165,"identifier":"11","token":"6.2\/II\/11","url":"\/6.2\/II\/11\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":373705,"structure_id":53172,"section_number":"6.2-1179","catch_line":"Real estate loans; required investment","url":"\/6.2-1179\/","token":"6.2\/II\/11\/7\/6.2-1179","metadata":false},{"id":373706,"structure_id":53172,"section_number":"6.2-1180","catch_line":"Appraisals; loan-to-value ratios","url":"\/6.2-1180\/","token":"6.2\/II\/11\/7\/6.2-1180","metadata":false},{"id":373707,"structure_id":53172,"section_number":"6.2-1181","catch_line":"Initial repayments on real estate loans","url":"\/6.2-1181\/","token":"6.2\/II\/11\/7\/6.2-1181","metadata":false},{"id":373708,"structure_id":53172,"section_number":"6.2-1182","catch_line":"Adjustable real estate loans","url":"\/6.2-1182\/","token":"6.2\/II\/11\/7\/6.2-1182","metadata":false},{"id":373709,"structure_id":53172,"section_number":"6.2-1183","catch_line":"Special provisions for home loans","url":"\/6.2-1183\/","token":"6.2\/II\/11\/7\/6.2-1183","metadata":false},{"id":373710,"structure_id":53172,"section_number":"6.2-1184","catch_line":"Dealing with successors in interest","url":"\/6.2-1184\/","token":"6.2\/II\/11\/7\/6.2-1184","metadata":false},{"id":373711,"structure_id":53172,"section_number":"6.2-1185","catch_line":"Trustees on loans secured by deed of trust","url":"\/6.2-1185\/","token":"6.2\/II\/11\/7\/6.2-1185","metadata":false}],"previous_section":{"id":373705,"structure_id":53172,"section_number":"6.2-1179","catch_line":"Real estate loans; required investment","url":"\/6.2-1179\/","token":"6.2\/II\/11\/7\/6.2-1179","metadata":false},"next_section":{"id":373707,"structure_id":53172,"section_number":"6.2-1181","catch_line":"Initial repayments on real estate loans","url":"\/6.2-1181\/","token":"6.2\/II\/11\/7\/6.2-1181","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1180\/","history_text":"

This law was first created in 1985. The record of its establishment is cataloged in chapter 425 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1985 \u201cActs\u201d aren\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1991, chapter 230; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":[{"id":373708,"section_number":"6.2-1182","catch_line":"Adjustable real estate loans","order_by":null,"url":"\/6.2-1182\/"}],"permalink":{"id":1491439,"object_type":"law","relational_id":373706,"identifier":"6.2-1180","token":"6.2\/II\/11\/7\/6.2-1180","url":"\/6.2-1180\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-1180\/","token":"6.2\/II\/11\/7\/6.2-1180","dublin_core":{"Title":"Appraisals; loan-to-value ratios","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1180","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A savings institution<\/span> may make a real estate loan only after a qualified person<\/span> designated by the savings institution<\/span> has submitted a signed appraisal of the security property, except that an insured or guaranteed loan may be made on the basis of a valuation of the security property furnished to the savings institution<\/span> by the insuring or guaranteeing agency. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> At the time of origination, a real estate loan may not exceed 100 percent of the appraised fair market value of the security property. During the term of the loan, the loan-to-value ratio may increase above the maximum permissible percentage if the increase results from an adjustment authorized by § 6.2-1182<\/a>. In the case of a home loan<\/span> secured by borrower-occupied property, the loan balance may not exceed 125 percent of the original appraised value of the property during the term of the loan, unless the loan contract<\/span> provides that the payment shall be adjusted at least once every five years, beginning no later than the 10th year of the loan, to a level sufficient to amortize the loan at the then-existing interest rate and loan balance for the remaining term of the loan. The 125 percent limitation shall not apply to that portion of a loan balance that is interest received in the form of a percentage of the appreciation in value of the security property. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nAPPRAISALS; LOAN-TO-VALUE RATIOS (\u00a7 6.2-1180)\n\nA. A savings institution may make a real estate loan only after a qualified\nperson designated by the savings institution has submitted a signed appraisal of\nthe security property, except that an insured or guaranteed loan may be made on\nthe basis of a valuation of the security property furnished to the savings\ninstitution by the insuring or guaranteeing agency.\n\nB. At the time of origination, a real estate loan may not exceed 100 percent of\nthe appraised fair market value of the security property. During the term of the\nloan, the loan-to-value ratio may increase above the maximum permissible\npercentage if the increase results from an adjustment authorized by §\n6.2-1182. In the case of a home loan secured by borrower-occupied property, the\nloan balance may not exceed 125 percent of the original appraised value of the\nproperty during the term of the loan, unless the loan contract provides that the\npayment shall be adjusted at least once every five years, beginning no later\nthan the 10th year of the loan, to a level sufficient to amortize the loan at\nthe then-existing interest rate and loan balance for the remaining term of the\nloan. The 125 percent limitation shall not apply to that portion of a loan\nbalance that is interest received in the form of a percentage of the\nappreciation in value of the security property.\n\nHISTORY: 1985, c. 425, \u00a7 6.1-194.63; 1991, c. 230, \u00a7 6.1-194.151; 2010, c.\n794.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}