Loan Program
Keep Your Mortgage. Access Your Home Equity.
A flexible line of credit secured by your home equity.
Overview
Qualifying homeowners may be able to access the equity they've built without replacing their existing first mortgage. Instead of refinancing a low first-lien rate away, an equity line or second-lien structure can sit alongside the loan you already have — you draw what you need and pay interest on what you actually use.
Program highlights
- Credit lines up to $400,000
- Up to 89% combined loan-to-value on qualifying scenarios where permitted
- Credit eligibility may begin above 620
- AVM-based valuation may eliminate the need for a traditional interior appraisal
- First- or second-lien options may be available
- Fixed-rate cash-draw options may be available
Common uses include debt consolidation, renovations, pools, tuition, investments and other major expenses.
Who it's for
- Texas homeowners with meaningful equity
- Owners funding renovations, education, or investment
- Borrowers who want flexibility instead of a lump-sum cash-out
- Homeowners protecting a low first-mortgage rate
Benefits
- Keep your existing first mortgage in place
- Draw funds as needed, up to your approved limit
- Pay interest only on what you borrow
- Fixed-rate draw options may be available
Common Questions
What's the difference between a HELOC and a cash-out refinance?
A cash-out refinance replaces your existing mortgage with a new, larger fixed loan. A HELOC is a separate line of credit that sits behind your current mortgage, giving you flexible access without changing your first loan.
Can I get a HELOC on an investment property in Texas?
Texas home equity rules generally limit HELOCs to your primary residence. Investment properties typically require a different equity solution.
Is the interest rate fixed?
HELOCs usually have a variable rate tied to a benchmark index. Some lenders offer a fixed-rate conversion option on portions of the balance.
Financing Provided Through
Clear Rate MortgageLicensed Mortgage Lender · NMLS #2470446
Mike Keys · NMLS #2795829 · Company NMLS #2470446
A boutique client experience, backed by a national lending platform.
- · Company licensed in 17 states
- · Broad portfolio of loan solutions
- · Experienced lending & operations team
- · Professional service from application through closing