Indiana § 37-5-2-14 - "Trigger rate"
Full text of Indiana Indiana Code § 37-5-2-14 — "Trigger rate", with citation guidance and answers to common questions.
§ 37-5-2-14. "Trigger rate"
Sec. 14. "Trigger rate" means:
(1) for fixed rate home loans in which the interest rate will not vary during the term of the loan, the rate as of the date of closing;
(2) for home loans in which the interest varies according to an index, the sum of the index rate as of the date of closing plus the maximum margin permitted at any time under the loan agreement; or
(3) for all other home loans in which the rate may vary at any time during the term of the loan, the maximum rate that may be charged during the term of the home loan.
[Pre-2026 Revision Citation: 24-9-2-14.]
As added by P.L.115-2026, SEC.97.
IC 37-5-3Chapter 3. Prohibited Lending Practices Generally
37-5-3-0.1Chapter not applicable to loans made before January 1, 2005 37-5-3-1Financing of certain premiums, penalties, and fees prohibited 37-5-3-2Subsidized low rate loans 37-5-3-3Default on existing loan 37-5-3-4Date of payment 37-5-3-5Loan acceleration 37-5-3-6Fee prohibited for payoff statement or written release; prepayment penalty prohibited for adjustable rate home loans; short sale; acknowledgment of offer; acceptance or rejection; liability for failure to respond 37-5-3-7Mortgage transactions and real estate transactions; prohibited acts; land contracts; written notice of encumbrances 37-5-3-8Intimidation, coercion, and harassment prohibited 37-5-3-9Prohibited discrimination
Frequently Asked Questions About Indiana § 37-5-2-14
What does Indiana Code § 37-5-2-14 cover?
Section 37-5-2-14 (""Trigger rate"") is part of the Indiana Code, the codified statutory law of Indiana. 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 Indiana § 37-5-2-14?
A common citation format is "Indiana Code § 37-5-2-14" (Indiana). 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 Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 37-5-2-14 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana 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 Indiana.