[Anonymous]

We are wanting to make sure we can offer a Texas Home Equity loan with a variable rate, so long as the when the rate adjust, the payments adjust to avoid a negative amortiztion or a balloon.

thanks
Sandra

Topic

[JGo9]

I’m not familiar with Texas law at all, so I might be missing something here, but in KY there are many banks that offer HELOC’s with a variable rate, and their payment amounts do change.

Unless there is some kind of stipulation specific to Texas, you should be good to go.

[Anonymous]

I can’t tell you off the top of my head. I know we don’t do them at our bank though.

I’d contact IBAT or the TBA Hotline. (1-888-353-3933) They’re very versed in Texas Law.

[jholzknecht]

Let me echo dmurray’s advice. Call the experts. Texas mortgage law is very unique. No other state has the complexity of Texas mortgage law.

[Author]

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