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Purchase

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SANDMAN35 Guest	Posted: Tue May 05, 2009 12:07 am    Post subject: Purchase I am getting ready to purchase a home that was abandoned during construction. If I purchase this home and have it appraised after construction is completed can I then take out a HELOC (to furnish and add a pool) or do I have to wait a year based on Texas A6. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
jenkin7 Joined: 04 Jun 2007 Posts: 3429 Location: Hawaii 514.13 Dollars($)	Posted: Tue May 05, 2009 1:33 am    Post subject: Hi SANDMAN, As far as I know, a minimum of 6 months of title seasoning is required under the Texas A6 laws if you are going to refinance an existing loan. But when you take out a HELOC, you are not refinancing your loan. Thus, I think you can take out an equity loan after completion of the construction, provided there is enough equity in the property.

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