# Real Estate Exam [Texas] 40, Home Equity Loan Restrictions

Page: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-texas-40-home-equity-loan-restrictions
Text version: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-texas-40-home-equity-loan-restrictions.md
Podcast: [Real Estate Exam Prep](https://stenobird.com/podcast/real-estate-exam-prep-7644240)
Published: 2026-05-25T00:21:14+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/c8c79377-7b14-40b6-b7ae-a0893ace40d7.mp3
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Duration seconds: 200

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Texas law caps the total of all loans secured by a homestead, including a new home equity loan, at 80% of the home's fair market value. - A mandatory and non-waivable 12-day cooling-off period must pass between the loan application and the closing. - Homeowners are restricted to having only one home equity loan on their property at any given time. - A new home equity loan cannot be obtained more frequently than once every 12 months. - Lenders must obtain a court order to foreclose on a property due to default on a home equity loan, a process known as judicial foreclosure. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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