Home improvements
Consider repairs, updates, or a larger renovation. Match the financing to the project schedule and confirm how and when funds can be accessed.
TEXAS HOME EQUITY · MORE POSSIBILITIES TO CONSIDER
Your home’s equity.
A plan for what comes next.
Renovations, a major expense, or a closer look at your monthly obligations? Explore a home equity line of credit while considering the mortgage you already have, the costs of borrowing, and a clear repayment plan.
01 / HOW A HELOC MAY FIT
Keep your next project in view.
Keep the borrowing plan clear.
A HELOC is a credit line secured by your property. Eligible plans allow access during a draw period, subject to the lender’s rules. We’ll compare the available line, required draws, rate structure, fees, and repayment before you choose.
Debt consolidation
Compare payments and total costs before moving existing debt into financing secured by your property. Build a payoff plan, rather than looking only at the initial payment.
Keep your first mortgage
A separate eligible equity line may preserve your existing first mortgage. Compare the combined payments and costs with a cash-out refinance.
Second homes & investment properties
Specialized options may be available for eligible properties. Occupancy, credit, equity, and income requirements can differ from primary-residence programs.
Compare the alternatives. A HELOC, a fixed home-equity loan, and a cash-out refinance work differently. We’ll review the amount needed, your current mortgage, cash available, and repayment preferences. Explore refinancing .
HELOC options FAQs.
Do I have to refinance my first mortgage?
A separate HELOC may allow you to keep the existing first mortgage. We’ll review lien position, current financing, property eligibility, and the combined payments. Keeping the first loan does not eliminate the cost of the new credit line.
Can I borrow for renovations?
A HELOC may fit eligible improvement plans, particularly when expenses occur in stages. Confirm initial-draw requirements, later access, contractor timing, and repayment. Projects that rely on a future improved value may require different financing.
Is debt consolidation a good use of a HELOC?
It depends on the full cost and your repayment plan. A lower monthly payment can come from stretching repayment over more years. Moving unsecured debts into a HELOC secures them with your property. Consider the risk of rebuilding the paid-off balances.
Can I use a HELOC on a rental or second home?
Some specialized programs may allow eligible second homes or investment properties. Pricing, equity requirements, credit standards, and property rules can differ. Selecting an occupancy in the calculator does not establish that the property qualifies.
Do I need an existing mortgage?
Not necessarily. A property owned free and clear may have equity-financing options, subject to underwriting, lien requirements, and applicable Texas rules. Enter zero for the first-mortgage balance to explore the calculator’s assumptions.
Can I use it as an emergency fund?
Available credit should not be your only emergency plan. Access can depend on draw rules, continued eligibility, and circumstances that may allow a lender to freeze or reduce the line. Borrowed funds also create a repayment obligation.
02 / EXPLORE YOUR NUMBERS
Try a few scenarios.
See how the payment changes.
Use your property value, first-mortgage balance, credit score, and an editable Prime assumption to explore the supplied example. Adjust the slider or enter a desired net cash amount.
Illustration, not live pricing. This calculator uses supplied example margins and plan terms. Prime is not updated automatically. The results do not establish eligibility, available credit, or a rate commitment. If you have other liens or credit lines, ask us for a complete review.
Explore your HELOC numbers.
Explore your estimated available cash, monthly payments and variable rate. Estimates only; not an offer or approval.
1 Choose property type
2 Enter property details
3 Choose your cash amount
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Your HELOC snapshot
Property type
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Current CLTV
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New CLTV
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HELOC line amount
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Origination fee (2%)
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Net cash available
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Prime + margin
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Estimated 25-year repayment payment
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Illustrated interest rate floor
4.00%
Illustrated interest rate ceiling
18.00%
Illustrated prepayment penalty
None
Illustrated minimum line
$25,000
Ready to explore your options?
Start secure application →
Apply securely to receive a personalized review of rates, eligibility and terms.
Important information. *For this variable-rate open-end HELOC illustration, APR is shown as the annualized periodic interest rate, subject to the 4% floor and 18% ceiling. The 2% origination charge is separately displayed and reduces the illustrated net cash proceeds; it is not simply added as two percentage points to APR. The pricing matrix and plan features are supplied example assumptions, not a live rate sheet. Confirm the lender's actual APR methodology, fees, index, margin, caps, and disclosures before advertising or relying on a quote. Prime is user-editable and is not automatically updated. Payment estimates assume the entire line is advanced immediately, no additional advances or fees, and an unchanged rate. Interest-only payments apply during the first 5 years; any remaining balance is then amortized over 25 years. Rates and payments may change as Prime changes, subject to plan terms. This calculator does not assess income, debt-to-income ratio, title, lien priority, or all Texas home-equity restrictions. Texas constitutional limits and product eligibility depend on transaction details; the 80% combined LTV limit shown is a program screening assumption and does not mean every property type or transaction is eligible. A HELOC is secured by real property, and failure to repay could result in foreclosure. Estimates are not formal disclosures, a commitment to lend, or a credit decision. Official lender disclosures and applicable Texas notices control.
Calculator FAQs.
Is the Prime rate in the calculator current?
The starting Prime rate is an editable example, not a live market feed. Update it using the index specified by the lender. The supplied margins and plan features are illustrative assumptions and must be confirmed against a current offer.
Why does my credit score or property type change the result?
The supplied example matrix uses credit-score bands and combined-LTV tiers to select a margin and maximum illustrated line. A different lender or program can use different rules. The calculator does not assess income, debts, title, or full eligibility.
What does combined loan-to-value mean?
For this calculator, combined LTV is the first-mortgage balance plus the illustrated HELOC line, divided by the estimated property value. Other liens or existing credit lines are not included. If you have them, ask us for a complete calculation before relying on the estimate.
Why are cash proceeds lower than the line amount?
The example deducts a 2% origination fee from the illustrated line to estimate initial net cash. Additional charges, lien payoffs, draw requirements, or a different fee structure may change actual proceeds. The line amount is the balance used for the payment illustration.
Does the payment assume I borrow the full amount?
Yes. Both payment estimates assume the entire illustrated line is advanced immediately and the rate remains unchanged. Actual payments depend on the outstanding balance, draw timing, payment terms, and rate changes. Later advances or principal reductions are not modeled.
Is the illustrated APR a personalized quote?
No. The calculator shows an illustrative open-end APR based on its periodic interest-rate assumption and displays the origination fee separately. It is not a formal quote or lender disclosure. Actual APR, index, margin, fees, and eligibility must be confirmed.
A QUESTION IS A GOOD PLACE TO START
Not ready to apply?
Let’s start with your question.
Buying, refinancing, or exploring your equity? You don’t need to have everything figured out. Tell me what’s on your mind, and we can talk through a place to begin.
Ask a mortgage question
Prefer to email directly? [email protected]
03 / REPAYMENT & TEXAS CONSIDERATIONS
Understand the line today.
Plan for the payment tomorrow.
A useful equity strategy includes more than the initial payment. Review what happens when rates change, when the draw period ends, and when you want to pay down or close the line.
During the draw period
Access and minimum payments depend on the plan. Interest-only payments do not reduce your principal unless you make additional principal payments.
During repayment
When principal repayment begins, the payment can rise even without a rate increase. Compare the later payment with your expected household budget.
Variable rates
The index, margin, floor, caps, and adjustment schedule determine how the rate can change. Stress-test a higher-rate scenario before borrowing.
Texas requirements
Homestead equity financing has specific notice, timing, lien, and closing requirements. Property status, existing liens, and prior equity borrowing need review.
What to have ready for our conversation.
- Estimated property value, property use, and current mortgage statement.
- Details of every other mortgage, equity loan, or credit line secured by the property.
- The amount you want to borrow, intended use, and timing.
- Your income, monthly obligations, and preferred repayment budget.
- Requested documents submitted through the secure application or account portal.
Payments, terms & Texas FAQs.
Can the interest rate and payment increase?
Yes. A variable-rate HELOC can change when its index changes, subject to the plan’s floor, caps, and other terms. Payments may rise even if you borrow no more money. Try a higher Prime assumption in the calculator to stress-test the payment.
What happens after the interest-only period?
Under the supplied illustration, the first five years are interest-only and the remaining balance is then amortized over 25 years. Principal repayment can make the payment rise, even if the rate stays unchanged. Actual plan periods and terms must be confirmed.
Can I pay principal during the draw period?
Ask the lender how additional principal payments are handled and whether repaid amounts can be borrowed again. Interest-only describes a minimum-payment structure in the illustration; paying only interest does not reduce the principal balance.
Does every Texas HELOC allow 80% combined LTV?
No. Texas homestead equity transactions have applicable constitutional limits, while lender rules can be more restrictive. The calculator uses an 80% screening ceiling and lower limits in some scenarios. Non-homestead property and existing liens require separate review.
How quickly can I access the funds?
Timing depends on documentation, valuation, title review, required notices, applicable cancellation periods, and funding conditions. Do not assume cash is available when you sign. Confirm disbursement timing before committing to expenses.
Is there a prepayment penalty or an early-closure fee?
The supplied calculator assumes no prepayment penalty. Confirm actual terms, including any early-closure, annual, inactivity, or other fees. Paying the balance to zero and formally closing the line may be different actions.
Can I lose my home if I do not repay?
A HELOC is secured by real property. Failure to meet the loan obligations can lead to foreclosure under the applicable terms and law. Budget for rate increases and the repayment period before borrowing.
Is HELOC interest tax-deductible?
Do not assume deductibility. The use of proceeds and applicable tax requirements matter. Have your tax adviser review your situation before relying on any tax benefit.
LET’S EXPLORE WHAT FITS
Your equity deserves
a thoughtful plan.
Start with your questions or begin the secure HELOC application. We’ll review the property, available options, costs, and repayment together.
Call E. Lee: 512-948-6550 · ← Back to Home
Use the secure application for financial documents and sensitive information. The HELOC application opens with the lending platform; follow its instructions for account access and requested documents.