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TEXAS 50(a)(6) LEGAL AND COMPLIANCE STATEMENT OF OPINION CLOSED END LOANS REGULATED UNDER ARTICLE XVI, SECTION 50(a)(6) OF THE TEXAS CONSTITUTION Instructions for Use: This form must be used for all.

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How to use or fill out the Tx Form 50 A 6 Download online

Filling out the Tx Form 50 A 6 is essential for securing loans against Texas homestead property. This guide provides detailed, step-by-step instructions to assist you in accurately completing this important form online.

Follow the steps to complete the Tx Form 50 A 6 Download effectively.

  1. Press the ‘Get Form’ button to access the Tx Form 50 A 6 and open it in the editor.
  2. In the 'Lender/Client' section, input the name of the lending institution involved in the loan transaction.
  3. Fill in the 'Gateway Loan #' field with the specific loan number assigned to this transaction.
  4. List the names of all borrowers in the provided section, ensuring all individuals involved in the loan are included.
  5. Review the 'Statement of Opinion' carefully. By signing this section, you confirm that all closing documents have been reviewed by a licensed legal counsel in Texas.
  6. In the signature area, provide your signature, print your name, and include your title and company details as required.
  7. Lastly, fill out the date when the form is completed to finalize your submission.
  8. Once all sections are correctly filled out, you can save your changes, download the form, print a hard copy, or share it as needed.

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A Texas A6 designation is given to any cash out home equity loan on a primary residence in Texas where cash is provided to the borrower. (Note: paying off non-mortgage debts such as credit cards is considered getting cash out).

Section 50, Article XVI, Texas Constitution ("Section 50"), sets out the only permissible encumbrances on a homestead. Prior to 1998, Section 50 permitted liens on homestead property for the purposes of purchase money, taxes, an owelty of partition, the refinance of a lien, including tax liens, and home improvements.

What is a Texas 50(a)(6) loan? A Texas 50(a)(6) loan is another term for a cash-out refinance loan. The loans are regulated in Section 50 of Article XVI of the Texas constitution. Some lenders may refer to cash-out refinances as A6 loans. What is considered a cash-out refinance in Texas?

A full appraisal is required on all Texas 50(a)(6) and 50(a)4) loans, regardless of the Automated Underwriting System (AUS) findings.

This Texas 50(a)(6) loan allows borrowers to take equity out of a homestead property under certain conditions. The Non-Home Equity program, Texas 50(a)(4), allows for a rate or term refinance of an existing Texas Home Equity loan.

Texas Section 50(a)(6) Loan Security Property A Texas Section 50(a)(6) loan must be secured by a single-unit principal residence constituting the borrower's homestead under Texas law. Loans secured by two- to four-unit properties, investment properties, or second homes are not eligible.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232