Texas § FI.343.202 - BALLOON PAYMENT
Full text of Texas The Texas Constitution § FI.343.202 — BALLOON PAYMENT, with citation guidance and answers to common questions.
§ FI.343.202. BALLOON PAYMENT
BALLOON PAYMENT. 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. Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. Sept. 1, 2001.
Frequently Asked Questions About Texas § FI.343.202
What does The Texas Constitution § FI.343.202 cover?
Section FI.343.202 ("BALLOON PAYMENT") 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.343.202?
A common citation format is "The Texas Constitution § FI.343.202" (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.343.202 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.