Which of the following is NOT considered a high-cost loan?

In determining what constitutes a high-cost loan under Rhode Island mortgage law and federal regulations, high-cost loans are typically defined by specific criteria, such as exceeding a certain APR threshold, high points, and fees, or exorbitant finance charges.

A loan to a senior citizen is not inherently classified as high-cost simply based on the borrower's age. The characteristics that define whether a loan is high-cost are focused on financial terms and conditions rather than the personal attributes of the borrower. Therefore, a loan made to a senior does not automatically meet any of the criteria that trigger high-cost loan classification. This is crucial for ensuring protections are applied fairly across all segments of borrowers, irrespective of age.

In contrast, the other options are directly related to the financial aspects of the loan terms that can precipitate a high-cost designation.