![]() ![]() Notice from Lender: A motor vehicle title lender is required to provide you with a clear and conspicuous printed notice advising you that a motor vehicle title loan is not intended to meet your long-term financial needs that the interest rate on a motor vehicle title loan is high and that if you fail to repay your loan in accordance with your loan agreement, the motor vehicle title lender may repossess and sell your motor vehicle. Alternatives may include among other things less expensive short-term financing from another financial institution, family, or friends, a cash advance on a credit card, or an account with overdraft protection. In General: You are responsible for evaluating whether a motor vehicle title loan is right for you. If you have any questions about motor vehicle title lending or want additional information, you may contact the Virginia State Corporation Commission's Bureau of Financial Institutions toll-free at (800) 552-7945 or on the Internet at. ![]() #LOANSTAR HOME LENDING DALLAS CODE#It is designed to advise you of your rights and responsibilities in connection with obtaining a motor vehicle title loan in Virginia under Chapter 22 (∮ 6.2-2200 et seq.) of Title 6.2 of the Code of Virginia. This means that most lenders require a 20% down payment or private mortgage insurance, but in turn, are able to offer lower rates and quicker processing for conventional loans.Please take the time to carefully review the information contained in this pamphlet. Unlike FHA loans, conventional mortgages are not insured by the government.
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