Home Equity Loans

The Texas Home Equity refinance loan allows you to refinance your current mortgage and cash-out the equity in your home up to 80% of the value of your home. Your homes value will be based on an appraisal of your property.

You can payoff your current mortgage & closing costs and receive cash from the loan. In some cases it may be necessary to have the title company pay off some of your debts with the cash when the loan funds, so you qualify for the loan.

Conforming Guidelines Summary
Occupancy Unit Max. LTV Maximum
Minimum Loan
Primary Only 1 80% $417,000 $417,000 $100,000
  • Texas law states that once you have a home equity loan it can only be refinanced with another home equity loan. Even if you aren't taking any more cash out of your home.
  • A home equity loan cannot be refinanced for 12 months from the date of closing.

HE Guidelines

Conforming Texas Home Equity Loans

Conforming loans are limited to $417,000 and must be approved using Fannie Mae's automated underwriting system. Below is a general list of guidelines for our conforming Texas Home Equity loans. If you don't find the information you are looking for, please email us your questions for further help.

  • Closing costs - Limited to 3% of the new loan amount by state law. This does not include escrows. On smaller loan amounts this may require us to increase your interest rate to cover closing costs in excess of the 3% limit.
  • Credit Scores - Our automated underwriting systems will determine if credit scores is sufficient for approval. All borrowers on the loan must have a minimum middle credit score of 620.
  • Interest Rates - Home Equity rates run about 0.25% higher than regular rate/term refinance rates. See Rate Table below.
  • Maximum LTV - Cash out the equity in your home up to an 80% LTV.
  • Minimum Loan Amount - $100,000.
  • Property Size - Strictly limited to properties with 10 acres or less.
  • Property Types - Texas primary residence only. Must be registered as your homestead. 1 unit, Single Family Homes, townhouses and condominiums. No Doublewides or mobile homes.
  • Bankruptcy or Foreclosure

    Chapter 7
    You must wait 4 years from the discharge date.

    Chapter 13
    2 years from the discharge date or 4 years from the dismissal date..

    You must wait 4 years from the date of the foreclosure.

    Short Sale
    4 years from the date. of the sale.

NOTE: After a bankruptcy be sure to check your credit report for errors and correct inaccurate information. This can make a big difference in your credit scores and loan approval.

Guidelines subject to change without notice. Additional guidelines and restrictions may apply. Submit your loan application for approval.

It's real easy to pre-qualify. An analysis and estimate will be emailed to you. Just click here to get started.

Conforming Home Equity(cash-out)
Refinance Loan Rates
Rates based on $200,000 Loans
30 Year Fixed Loans
30 day lock.
15 Year Fixed Loans
30 day lock.
Rate Points APR Rate Points APR
3.625% 0.161% 3.876% 2.875% 0.658% 3.317%
3.875% -1.061% 4.129% 3.125% -0.452% 3.570%
4.125% -2.285% 4.383% 3.375% -1.313% 3.823%
Conforming loan rates are based on the following parameters
  • 80% Loan to Value
  • Owner Occupied, Primary residence, 1 unit
  • 740 or higher credit scores for all borrowers on loan
  • 30 day lock
Additional restrictions may apply
Contact us for an analysis and Loan Estimate for your specific loan needs...

Rates are subject to change without notice until locked in.
Rates on this Page Last Updated:
2/5/16 10:00 AM


  • This is a short form that only takes a few minutes to complete.
  • It will give us the info we need to pre-qualify you according to your income, debts and funds available for down payment and closing costs.
  • The results will be emailed to you with an estimate for your review.
  • The Pre-Qualify form is primarily designed for borrowers with good credit since NO credit report will be pulled with this prequalification.

Email or call us if you need additional information.

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3-day Right of Recession

Required on Refinance loans only.
Texas homestead law provides for any borrower refinancing their homestead in Texas to have a grace period of 3 business days from the closing date to re-consider the terms of the refinance before the loan becomes final. Details Icon - Opens in New Window