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NYLast updated: 2026-01
New York Regulations
Comprehensive guide to seller financing laws, usury limits, and disclosure requirements in New York.
Maximum Interest Rate
16%
Business exemptions may apply
Usury Laws
Interest rate limits and penalties
Maximum Rate
16%
Penalty Type
Criminal penalties possible
Notes
Civil usury at 16%, criminal usury over 25%. Most real estate loans have exemptions.
Business Exemption
Loans over $250,000 and most commercial real estate loans are exempt.
Seller Financing Requirements
Disclosures, licensing, and restrictions
Required Disclosures
- Property Condition Disclosure Statement (or credit at closing)
- Lead-based paint disclosure (pre-1978)
Licensing Required
No license required
No license required for seller financing own property.
Consumer Protection
Applicable laws protecting buyers
- New York General Business Law Article 22-A (Consumer Protection)
Real Estate Specifics
Foreclosure process and property laws
- Mortgage state (strict judicial foreclosure)
- 120-day pre-foreclosure notice required
- No statutory redemption after sale
Legal Disclaimer
This information about New York regulations is provided for educational purposes only and does not constitute legal or tax advice. Laws change frequently and vary by county and municipality. Always verify current regulations with a licensed New York attorney before entering into any seller financing arrangement.