Round Rock, TX · Member since 2012 · 17 posts · 0 votes
I have inquired with local banks if an equity line of credit or HELOC is available against investment properties. Unfortunately, they have all declined claiming that Texas regulations prohibit this type of product on investment properties.
Is this true or are banks simply avoiding this type of loan in Texas?
Real Estate Broker · Northwest Indiana, IN · Member since 2011 · 2k+ posts · 2k+ votes
13y
They are telling you the truth. HELOC's in Texas are restricted to homestead properties only. You can pursue a cash out refinance of the NOO property, but not a HELOC in either first or second postion.