The debtor may prepay in full at any time without penalty the debt represented by a personal, family, or household purpose loan agreement that is secured in whole or in part by a first or junior lien on real estate if the aggregate of all sums advanced or contemplated by the parties in good faith to be advanced does not exceed one hundred fifty thousand dollars.
S.C. Code Ann. § 37-23-80
Prepayment
Known as the South Carolina High-Cost and Consumer Home Loans Act
The act spans §§ 37–37 (11 sections).
2003 Act No. 42, SECTION 1, eff January 1, 2004, and applying to loans for which the loan applications were taken on or after that date.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.