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Can I get a 1st lien HELOC loan in Texas?

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tabremer Joined: 12 Mar 2009 Posts: 1 1.30 Dollars($)	Posted: Thu Mar 12, 2009 8:22 am    Post subject: Can I get a 1st lien HELOC loan in Texas? Like 0 Dislike 0 I would like to refinance my mortgage to a 1st lien HELOC that I can deposit and withdraw money from regularly. Is that possible in Texas?
Anne Guest	Posted: Thu Mar 12, 2009 10:14 am    Post subject: Like 0 Dislike 0 I was told that for a HELOC loan in Texas, it can only be the amount of current equity and you can only withdraw once a year. Is this not accurate, or is this another kind of loan?
adonis Joined: 22 Oct 2005 Posts: 10569 Location: ALASKA 1090.22 Dollars($)	Posted: Fri Mar 13, 2009 12:26 am    Post subject: Like 0 Dislike 0 Welcome, To tabremer, As far as I know, you will be able get a HELOC in Texas. You can check out with your current lender and see what you need to do. In order to get a HELOC, the lender would also consider your income and credit score. You can check out an earlier discussion in the forum regarding refinance and HELOC in Texas from the given page: http://www.mortgagefit.com/texas/refinance-piggybackheloc.html To Anne, As far as I know, in Texas, you can't go for a cash out refinance for more than 80% Loan to value ratio. This is according to the Texas A6 law. To know more, check out the following page: http://www.mortgagefit.com/texas/a6loan-law.html#23849

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