Texas HELOC Rates | Tx Home Equity Line of Credit
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Today’s Texas HELOC Rates | Austin, Dallas, Houston

Today’s Texas HELOC Rates | Austin, Dallas, Houston

Who has the best, lowest Texas HELOC rates?

Remember, in the state of Texas you can do a second lien when you want to pull cash out of your home. This loan is commonly known as a HELOC or a home equity line of credit.

It’s still a mortgage but it’s in second positon-behind your existing mortgage– and it’s more of a line of credit than a mortgage.  In fact, a HELOC is a line of credit.

This means you can charge it up, pay it off, then back up again.   It’s literally a line of credit, not a mortgage.  And since it’s a line of credit and it’s a second lien mortgage these rates are higher. 

Right now, today’s first lien mortgage rates are 3.5-3.625% (15 year fixed Texas Cash out)…but today’s HELOC rates are 15 year mortgages at 5.25-5.375%. 

Plus today’s HELOC have very minimal closing costs.   Typically it’s 2% of the loan amount and an appraisal.  So if you need to cash out $50,000 your closing costs on a HELOC would run $1000 and the appraisal, $450.

So compare $1500 in fees against re-doing the entire first lien at 3.625% and $3500 in fees.

If you want the lowest Texas HELOC rates, give us a call at 512-996-8194.  We do home loans all over Texas….including Texas HELOCs.

www.mylendingplace.com

512-996-8194 Austin | Dallas | El Paso | Houston

Texas HELOC Rates

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