I know it's true that in the state of Texas you can only refinance up to 80% of your equity value. Is the same true for home equity loans in Texas? If so, are there any exceptions?
To my knowledge, the 80% refinance limit in Texas also applies to home equity loans.
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Based on research I conducted, there is no exception to the Texas Refinance limit, as the limit is imposed by state law. This limit was imposed to prevent consumers from overextending the equity in their homes and to protect them from predatory lending practices. The Texas Office of the Consumer Credit Commissioner offers a guide to home equity loans in Texas.
If you are interested in obtaining a home equity loan, I encourage you to visit the Bills.com Home Equity Resources page.
I hope this information helps you Find. Learn. Save.