Heloc after refinance Texas

[Jennifer Barrera]

Is it possible to get a home equity line of credit after a cash out refinance on a primary residence in Texas? Is there any work around this ... so I was told by one lender that it's not possible.

[Jay Hurst]

Quote from @Jennifer Barrera:

Is it possible to get a home equity line of credit after a cash out refinance on a primary residence in Texas? Is there any work around this ... so I was told by one lender that it's not possible.

@Jennifer Barrera It is not possible in Texas. State law will allow only one cash out vehicle at a time. So, you cannot have a HELOC behind a cash out first lien. You can refinance the first lien (without pulling out any additional cash), then open a HELOC but of course that might not make sense with the recent surge in interest rates but that is your only choice if you want to open a HELOC in Texas with an existing cash out loan. More FAQ's here: Texas cash out FAQ and law