Bills › 91st General Assembly
Relating to closing costs for a debt secured by an interest in land
Where it is now
- Done: IntroducedFebruary 5, 2025
- Done: SubcommitteeFebruary 5, 2025
- Done: House committeeFebruary 18, 2025
- Skipped: Passes the HouseContinued as HF 512
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 512 → Its progress continues under the new number. Go to HF 512 What’s a funnel?
What’s in it
AI summary Lenders who provide loans for land or homes can charge certain reasonable closing costs and discount points to lower interest rates. These extra fees must be fair and cannot be used to bypass existing laws that limit interest charges. This change affects people taking out loans from creditors and mortgage bankers.1
Read the official explanation
This bill relates to closing costs for a debt secured by an interest in land.8(5). A creditor may also contract for and receive discount points for the purpose of reducing, and which result in a reduction of, the interest rate or time-price differential applicable to the loan, and points agreed upon by the creditor and borrower to offer a given interest rate.
Changed since by amendment H-1240; see Amendments.
House subcommittee
Named February 5, 2025. On February 11, 2025 it recommended passage.
- Rep. Carter F. Nordman REmail
- Rep. Jacob Bossman REmail
- Rep. Scheetz
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Family tree
Study bill
91st General Assembly