Virginia § 6.2-422 - Prepayment penalty for loan secured by home occupied by borrower
Full text of Virginia Code of Virginia § 6.2-422 — Prepayment penalty for loan secured by home occupied by borrower, with citation guidance and answers to common questions.
§ 6.2-422. Prepayment penalty for loan secured by home occupied by borrower
The prepayment penalty in the case of a loan secured by a mortgage or deed of trust on a home that is occupied or to be occupied in whole or in part by a borrower shall not exceed two percent of the amount of such prepayment.
1987, c. 622, § 6.1-330.83; 2010, c. 794.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 6.2-422
What does Code of Virginia § 6.2-422 cover?
Section 6.2-422 ("Prepayment penalty for loan secured by home occupied by borrower") is part of the Code of Virginia, the codified statutory law of Virginia. 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 Virginia § 6.2-422?
A common citation format is "Code of Virginia § 6.2-422" (Virginia). 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 Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 6.2-422 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia 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 Virginia.