Home Equity
Home equity loans and HELOCs in Texas
Home equity is your home's value minus what you owe on it. You can borrow against it in more than one way, and each way has tradeoffs.
Home Equity Line of Credit (HELOC)
A HELOC is a line of credit backed by your home. During the draw period you can borrow, repay and borrow again, much like a credit card. Rates are often variable.
Home Equity Loan
A home equity loan pays you one lump sum, backed by your equity, with a fixed rate and term. You repay it in set monthly payments.
Texas considerations
Texas has specific rules for home-equity loans on homestead property, including limits on loan-to-value and fees. This is general information, not legal advice — flag for compliance review.
Texas homestead considerations, with the state's own sources