is it TRUE that you can't do HELOC on rental property in TEXAS?
You can, Texas just has some extra rules and stipulations. The biggest is there's a $4,000 minimum draw from your Heloc per transaction. Depending on your plan, that may or may not be a deal breaker. Definitely a little bit of a pain though, as that's just a Texas thing.
Updated 5 months ago
Disclaimer: That was the case at least when I was looking to get my Texas Mortgage license. All the restrictions made it to where our loan didn't make sense out there. I'm not the foremost expert on Texas Lending, that just what I remember.