Arizona § 6-114 - Balloon payments prohibited; applicability; exemptions
Full text of Arizona Arizona Revised Statutes § 6-114 — Balloon payments prohibited; applicability; exemptions, with citation guidance and answers to common questions.
§ 6-114. Balloon payments prohibited; applicability; exemptions
A. A person engaged in the business of lending money or negotiating a loan between parties shall not make or arrange a loan in violation of this section.
B. On a loan in an amount of ten thousand dollars or less for a term up to three years which is secured by a lien on real property comprising an owner-occupied dwelling, an installment payment, whether providing for payment of principal, interest or principal and interest, shall not be greater than twice the amount of the smallest installment.
C. This section applies only to mortgages, trust deeds or other evidences of indebtedness secured by a lien other than a primary or first lien on real property.
D. This section does not apply to transactions involving the purchase or sale or the proposed purchase or sale of real property or to a financial institution licensed or chartered by this state or the federal government.
E. Pursuant to the provisions of 12 United States Code section 3804, this section shall not be superseded by the provisions of 12 United States Code section 3803.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 6-114
What does Arizona Revised Statutes § 6-114 cover?
Section 6-114 ("Balloon payments prohibited; applicability; exemptions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 6-114?
A common citation format is "Arizona Revised Statutes § 6-114" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 6-114 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.