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Texas Finance Code - FIN § 347.105. Maximum Rate Adjustments

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The total of the rate adjustments for any six-month period may not exceed one-half of one percent a year.

(b) If the stated interval for rate adjustments is a 12-month period or longer, a rate adjustment may not exceed one percent a year.

(c) The total of all rate adjustments over the term of the credit transaction may not exceed the least of:

(1) one-half of the initial rate;

(2) eight percent;  or

(3) a rate, expressed as a percentage, computed by dividing the term of the loan in years by two.

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Cite this article: FindLaw.com - Texas Finance Code - FIN § 347.105. Maximum Rate Adjustments - last updated January 01, 2024 | https://codes.findlaw.com/tx/finance-code/fin-sect-347-105/

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