A retail installment contract or retail charge agreement may not provide for a first lien on real property to secure the obligation, other than a lien:
(1) created by law on the recording of an abstract of judgment; or
(2) provided for or granted by a contract or series of contracts for the sale or construction and sale of a structure to be used as a residence if the time price differential provided in the contract or agreement does not exceed an annual percentage rate permitted under this chapter or Chapter 303.