Frost Bank

Several factors affect your HELOC rate and the state is usually not one of them. Among them are the current prime rate (now 8.5%), your credit score, your combined loan-to-value ratio (which represents the percentage of home equity that you want to borrow) and your debt-to-income ratio, which is the amount of existing debt that you have relative to your income.

Most HELOCs are prime +1% which equals 9.5% in todays market.  If your a good client or high FICO maybe just prime 8.5%.  You will also have close cost of around 2%.

Pros - You pay interest only on the amount you have borrowed, interest-only payments during the draw period, a flexible way to pay for recurring expenses, such as a series of home renovations. 

Cons - A variable interest rate means that when the Fed raises the federal funds rate, your monthly payments may go up, you could lose your home if you fail to repay.

None for investment properties. 

 @Summer Whitten   Are you asking for a primary home or non-owner occupied properties? 

 Not for investment properties in TX. I believe by law they are not allowed. For HELOCs I'm sure on primary they may be possible in TX. There are many lenders who do HELOCs in TX

Bancorp South, Frost, East West Bank, Trustmark Bank, Veritex.

Hey Summer, did you end up going with any of the recommended banks for your HELOC here in Texas? A friend recommended RFBCU, a credit union here in Texas and I've just started the process. Good luck!