Tapping into Your Texas Home Equity

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Have you considered tapping into your Texas home equity to send a child off to college, or remodel your Texas home? In a Texas home equity loan, a fixed or adjustable rate loan is secured by your Texas home equity. As with your first Texas mortgage, you can borrow a certain sum of money to be paid back monthly over a period of time. The terms "Texas home equity loan" and "Texas second mortgage" are often used interchangeably.

Getting the Texas Loan

Getting your first Texas mortgage is a similar routine to that of a Texas home equity loan. Some distinctions are though, that the interest rate with a Texas home equity loan is typically higher (with tax-deductible interest) with lower closing costs.

You will have to provide salary verification and have a positive credit score to qualify for a Texas second mortgage. A home appraisal will be necessary to assess the property's current market value. To check on your Texas home equity loan choices, contact us at 972-447-5778.

Have questions about your Texas home equity? Call us at 972-447-5778. We answer Texas home equity loan questions every day.