Equity as a lump sum
A cash-out refinance can provide funds for renovations or other major goals. It also replaces your existing mortgage, so the new rate and term matter.
Access equity with a new mortgage · Texas
Texas
Texas cash-out refinance.
Replace your existing mortgage with an eligible new loan and access part of your home’s equity at closing. Compare the new mortgage payment with your goal for the funds and the alternatives.
Options depend on your qualifications, property, and lender review. This overview is not a loan approval or rate quote.
Know your options
How this
program works.
Texas-specific rules
For eligible Texas home-equity cash-out transactions, the combined borrowing is generally limited to 80% of the home’s value. Existing liens and transaction rules need to be reviewed.
Compare before consolidating
Moving debt into a mortgage can change the payment and repayment period. Debt secured by your home introduces risk and should be evaluated carefully.
Make an informed choice
What to
consider.
- You will have closing costs and a new mortgage structure.
- Texas home-equity rules, waiting periods, and lien requirements can affect eligibility.
- Available cash is based on value, existing loan balances, costs, and the approved loan amount.
Common questions
A clearer
starting point.
Will a cash-out refinance replace my current loan?
Yes. It generally pays off the existing mortgage and creates a new one, with eligible cash proceeds at closing.
Can I borrow all of my equity?
No. Loan-to-value limits, current balances, and closing costs determine the amount potentially available.
What if I want to keep my first mortgage rate?
We can compare a HELOC or home-equity loan, subject to eligibility, with the complete cash-out refinance cost.
A quick introduction
Let's find your
way home.
Tell me a little about your plans. I’ll help you understand your loan options and next steps.
npyles@lonestarfinancing.comPrefer to talk? Book a 15 minute call.