Changes to Home Equity Lending in Texas (S.J.R. 60)

Changes to Home Equity

Lending in Texas ¨C (S.J.R. 60)

Please send questions to homeequity@.

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Passed by the Texas Legislature on May 6, 2017

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Passed by majority of Texas voters on November 7, 2017

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Becomes effective for closings on and after January 1, 2018

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Eliminating the ban on home equity loans on

homesteads with agricultural exemptions.

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S.J.R. 60 repeals Article XVI, Section 50(a)(6)(I) of the Texas

Constitution, the provision prohibiting home equity loans on

property with an agricultural exemption other than dairy farms.

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As of January 1, 2018, lenders may close 50(a)(6) loans on

properties with agricultural exemptions in place at the time of

closing.

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