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TX SJR79
Joint Resolution
Status
3/14/2025
Primary Sponsor
Jose Menendez
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AI Summary
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Proposes a constitutional amendment to increase the maximum loan amount that can be secured by a homestead from 80% to 100% of fair market value for loans guaranteed by the U.S. Department of Veterans Affairs
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Applies specifically to refinancing situations where the extension of credit is used to refinance an existing lien against the homestead or is VA-guaranteed
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Modifies required homeowner disclosure notices to inform borrowers that VA-guaranteed loans may exceed the standard 80% loan-to-value limit
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Extends the same 100% fair market value limit to home equity lines of credit that are VA-guaranteed
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Scheduled for voter approval at an election on November 4, 2025
Legislative Description
Proposing a constitutional amendment increasing the amount of debt that may be secured by a homestead for purposes of refinancing a loan including those with an extension of credit guaranteed by the United States Department of Veterans Affairs.
Property Interests
Last Action
Referred to Business & Commerce
3/25/2025