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Limits on Texas HELOC Loan to Value?

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Question: 
Where can I find the laws governing HELOCs in Texas. More specifically, what is the maximum amount we can loan? (50%?)
Answer: 

The Finance Commission of Texas is an excellent resource.As to the amount and some basic restrictions (from the link above), a minimum draw of $4,000 is required, additional advances are not allowed if the principal amount of the loan exceeds 50% of the fair market value of the property, and advances are not permitted through credit card, debit card, or preprinted solicitation checks.

First published on BankersOnline.com 11/07/05

First published on 11/07/2005

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