Florida Owner Financing Terms and Compliance
Florida usury limits (Section 687.02): 18% for loans under $500K, 25% over. Violation: forfeiture of double interest (Section 687.04). Dodd-Frank: entities (LLCs, corps) don’t qualify for the 3-property exemption; must comply fully (TILA, RESPA, ability-to-repay, MLO license). Many investors finance personally to use exemption.
Usury Laws
- 18% max for loans under $500K
- 25% max for loans over $500K
- Violation: forfeiture of 2x interest
Disclosure Requirements
- Dodd-Frank applies: TILA, RESPA, ATR
- Exempt: no federal requirements
- Always provide written note + mortgage
Entity Financing
- LLCs/corps: no Dodd-Frank exemption
- Must comply fully (MLO license needed)
- Many finance personally for exemption
Related Terms
- Owner Financing — Overview
Barnes Walker Real Estate
Barnes Walker’s attorneys ensure owner financing compliance in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC