Tex. Fin. Code § 343.202 · Subchapter C. HIGH-COST HOME LOANS
BALLOON PAYMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A high-cost home loan may not contain a provision for a scheduled payment that is more than twice as large as the average of earlier scheduled monthly payments, unless the balloon payment becomes due not less than 60 months after the date of the loan. This prohibition does not apply if the payment schedule is adjusted to account for the seasonal or otherwise irregular income of the borrower or if the loan is a bridge loan in connection with the acquisition or construction of a dwelling intended to become the borrower's principal dwelling.
Notes and commentary — not statutory text
History
Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. Sept. 1, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.343.htm
- Text hash
- sha256 6e8b8e8860c1a93ba4f77fd2e179b3a44243bd4160994bf1b5f18bd8293c9fe9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.