Tex. Nat. Res. Code § 162.014
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
No disbursement of funds on a loan shall be made unless the loan is secured by a mortgage, deed of trust, or other lien on the home. A mortgage retained by or a deed of trust to the board or any other lien may be a participation in a lien securing any other loan for the purchase of the property. Payments to retire the loan shall be made at times determined by the board.
Tex. Nat. Res. Code § 162.014