Indiana § 37-5-4-8 - Repayment ability; commercially reasonable practices to determine debt to income ratio
Full text of Indiana Indiana Code § 37-5-4-8 — Repayment ability; commercially reasonable practices to determine debt to income ratio, with citation guidance and answers to common questions.
§ 37-5-4-8. Repayment ability; commercially reasonable practices to determine debt to income ratio
Sec. 8. (a) A creditor may not make a high cost home loan without regard to repayment ability.
(b) If a creditor presents evidence that the creditor followed commercially reasonable practices in determining the borrower's debt to income ratio, there is a rebuttable presumption that the creditor made the high cost home loan with due regard to repayment ability. For purposes of this section, there is a rebuttable presumption that the borrower's statement of income provided to the creditor is true and complete.
(c) Commercially reasonable practices include the use of:
(1) the debt to income ratio:
(A) listed in 38 CFR 36.4337(c)(1); and
(B) defined in 38 CFR 36.4337(d); and
(2) the residual income guidelines established under:
(A) 38 CFR 36.4337(e); and
(B) United States Department of Veterans Affairs form 26-6393.
[Pre-2026 Revision Citation: 24-9-4-8.]
As added by P.L.115-2026, SEC.97.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 37-5-4-8
What does Indiana Code § 37-5-4-8 cover?
Section 37-5-4-8 ("Repayment ability; commercially reasonable practices to determine debt to income ratio") 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 § 37-5-4-8?
A common citation format is "Indiana Code § 37-5-4-8" (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 § 37-5-4-8 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.