According to Article 7 of the Real Estate Law, interest on a loan may not be charged under which condition?

Interest on a loan may not be charged before the note date until the proceeds are deposited to escrow because, under the provisions outlined in Article 7 of the Real Estate Law, it is important to ensure that interest does not accrue until the funds are actually made available for use. The note date is essential in determining when the borrowing obligation begins, and until the transaction is officially recognized and the funds are accessible within escrow, charging interest would be premature and not in line with regulatory guidelines. This protects borrowers from incurring interest charges before they have received the benefits of the loan.

In contrast, other conditions listed do not align with the specific regulatory focus of Article 7. For example, charging interest upon completion of the loan or on unsecured loans is permissible, provided they adhere to other legal standards. Similarly, there are no restrictions explicitly stated regarding charging interest after 30 days, making option B the clear and accurate choice based on the established provisions of the law.