Your Equity,
On Standby
A HELOC is a revolving line of credit secured by your home — borrow what you need, when you need it, and pay interest only on what you use. Our online application takes about 10 minutes and gives you your own quote instantly, with an automated online appraisal instead of the wait-for-the-appraiser routine.
What Is a HELOC?
Think of it as a credit card backed by your house — with a much lower rate because it’s secured. You’re approved for a credit limit based on your equity. During the draw period you borrow and repay as needed, paying interest only on the balance you’re carrying. Your existing mortgage stays exactly as it is.
That last part matters. If you locked a low rate on your first mortgage, a cash-out refinance would replace it. A HELOC leaves it alone and adds a flexible second lien on top — often the smarter structure for renovations, tuition, or anything you’ll spend in stages.
Quote to Closing, Online
Apply Online
About 10 minutes: your address, income, and the line size you’re looking for. The automated appraisal values your home during the application.
See Your Quote Instantly
Your credit line, rate, and terms — on screen, in the same sitting. No waiting days for a callback to find out where you stand.
Close & Draw
E-sign what can be e-signed, close per Texas requirements, and your line is ready. Draw what you need, when you need it.
HELOC vs. Cash-Out Refinance
| HELOC | Cash-Out Refinance | |
|---|---|---|
| Your current mortgage | Stays exactly as it is | Replaced with a new, larger loan |
| How you get funds | Draw as needed, repay, draw again | One lump sum at closing |
| Interest | Only on what you’ve drawn; rate is typically variable | On the full new balance; rate is typically fixed |
| Best for | Staged or uncertain costs — renovations, tuition, a standby reserve | One large, known expense or restructuring your whole loan |
| Texas 80% rule | Applies to both — total loans against your homestead can’t exceed 80% of its value | |
Not sure which fits? That’s a ten-minute conversation — reach out and we’ll run both structures against your actual numbers, or compare payments yourself with our comparison calculator.
HELOC Questions, Answered
Texas caps all loans against your homestead at 80% of its value, combined. Take your home’s value, multiply by 0.80, subtract your mortgage balance — that’s your ceiling. A $500,000 home with a $300,000 balance leaves up to $100,000 of line. The application’s automated appraisal pins down the real number.
It’s an automated valuation model — the same category of tool lenders and county districts use — and for most homes in established DFW neighborhoods it lands close. If your home is unusual or the model can’t value it confidently, a traditional appraisal can still be used.
No. Your first mortgage — its rate, payment, and term — is untouched. The HELOC is a separate second lien with its own payment based on what you’ve drawn.
During the draw period you pay interest on your outstanding balance (some plans allow principal too). After the draw period ends, the balance converts to a repayment schedule. Your quote spells out both phases before you commit.
The Texas homestead rules — including the 80% cap and 12-day wait — apply to your primary residence. Equity options on investment properties follow different guidelines; see our investor loans page or ask us.
Then it simply sits there as a reserve — you pay no interest on money you haven’t drawn. Many homeowners open one precisely for that: access to their equity without borrowing a dollar until they choose to.
This page is general educational information and is not a commitment to lend, an offer of credit, or legal, tax, or financial advice. HELOC rates are typically variable and can change over time; your quote will disclose the terms that apply to you. Texas home equity loans are governed by Article XVI, Section 50 of the Texas Constitution. All loans subject to credit approval, underwriting, and property qualification. Equal Housing Opportunity.
See Your Line in About 10 Minutes
No phone call, no scheduling an appraiser, no waiting to find out where you stand. Apply online and your quote is on screen before your coffee’s cold.
