Can I legally make personal or commercial loans that exceed usury rates if the borrower waives usury rights?
No. Your question actually makes a common legal mistake. You state “if the borrower waives usury rights?” However, the borrower does not have any usury rates. Usury law puts a duty on the creditor; it does not confer a right on the borrower. This is also a common mistake made in regards to employment laws. For example, if you read the minimum wage law, you will notice that it puts a duty on the employer to pay minimum wage, not a right to receive minimum wage by the employee. If a law places a duty on a person, that duty cannot be waived. If a law confers a right to a person, then the right can be waived.
