Under Texas law, there is generally a one-year seasoning period for refinancing an existing loan made under Article XVI, Section 50(a)(6) of the Texas Constitution (“Texas Home Equity Loan”) as either a new Texas Home Equity Loan or as a no cash-out rate/term refinance made under Article XVI, Section 50(f)(2) of the Texas Constitution (“F2 Conversion”).

The Texas Constitution provides an “emergency exception” to the one year seasoning requirements- but be careful.  The exception may be difficult to navigate. Please read the Full Memorandum below.

Full Memorandum