Texas § FI.343.101 - REFINANCING
Full text of Texas The Texas Constitution § FI.343.101 — REFINANCING, with citation guidance and answers to common questions.
§ FI.343.101. REFINANCING
REFINANCING. (a) For purposes of this section, a low-rate home loan is a home loan that at its inception carries an interest rate two percentage points or more below the yield on treasury securities having comparable periods of maturity to the loan maturity, except that if the loan's interest rate is a discounted introductory rate or a rate that automatically steps up over time, the fully indexed rate or the fully stepped-up rate, as appropriate, shall be used instead of the rate at the loan's inception to determine whether the loan is a low-rate loan. (b) A lender may not replace or consolidate a low-rate home loan directly made by a government or nonprofit lender before the seventh anniversary of the date of the loan unless the new or consolidated loan has a lower interest rate and requires payment of a lesser amount of points and fees than the original loan or is a restructure to avoid foreclosure. Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. Sept. 1, 2001. Notwithstanding the approval by the voters on Sept. 13, 2003, of the constitutional amendment authorizing the continuation of this section, this section expired as provided by Subsection (b) on Sept. 1, 2003.
Frequently Asked Questions About Texas § FI.343.101
What does The Texas Constitution § FI.343.101 cover?
Section FI.343.101 ("REFINANCING") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.343.101?
A common citation format is "The Texas Constitution § FI.343.101" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.343.101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.