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Adam Irvin
  • Prosper, TX
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Texas HELOC rules on non-primary residence

Adam Irvin
  • Prosper, TX
Posted Jul 24 2018, 18:54
I’m looking for some insight into a HELOC in the great state of Texas. I’ve been told that I can only take out a HELOC on my “homestead” or primary residence due to Texas laws. My goal is to have a HELOC on my rental property, which currently holds about $80-100K in equity. Th goal being to take that money, as needed, to fund cash purchases of more investment properties, then refi and pay off the HELOC. However, I can’t do any of that, if the state won’t allow me to take a HELOC on my non primary residence... Can anyone shed some light on this for me? Thanks in advance.

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