Home Equity Loans
Unlock the Value of Your Texas Home with a Home Equity Loan
With a Home Equity Loan from Lone Star Financing, you can bring your big ideas to life. Whether you’re dreaming of a kitchen remodel, a new pool, a long-awaited vacation, or covering college expenses, our friendly lending team is here to help you make it happen. Discover how your home’s value could open the door to an affordable loan for almost any purpose.
- Receive funds in a single, lump-sum payment
- Fixed interest rates for predictable monthly payments
- Borrow up to 80% of your home’s value (after any existing mortgage balance)
- Flexible repayment terms of up to 20 years
- Ideal for consolidating high-interest debt
- No prepayment penalties for early payoff or extra principal payments
- No closing costs on loans under $250,000
- Potentially tax-deductible interest
- Requires a single-family, owner-occupied homestead property as collateral
A Home Equity Loan in Texas is a type of loan that allows homeowners to borrow against the equity they have built up in their property. Equity is the difference between the market value of the home and the outstanding balance on any existing mortgage. Texas homeowners can use home equity loans for major expenses, like home improvements, debt consolidation, or educational costs.
Why Lone Star Financing
Fast Close
Our goal is to close every loan in 30 days or less.
Low Rates
Texas Home Equity Loans with Low Rates
Service
Local lender with top-notch customer support.
Single, Lump Sum Payment
Fixed Rates – Predictable Payments
Borrow up to 80% of Home’s Equity
Trusted Lender for Home Equity Loans in Texas
Here are some key aspects of Home Equity Loans in Texas:
Fixed Loan Amount: Home Equity Loans provide a lump sum with a fixed interest rate and repayment schedule, making monthly payments predictable.
Equity Limits: Texas has a unique law that restricts borrowing to 80% of the home’s appraised value (including any existing mortgage), to help protect homeowners from over-leveraging.
“Once a Year” Rule: Texas only allows homeowners to take out one Home Equity Loan per year on the property.
Non-recourse Loan: If you default on a home equity loan, Texas law prohibits lenders from pursuing other assets beyond the home itself.
Tax Deductibility: In some cases, interest paid on a Home Equity Loan may be tax-deductible, although this depends on how the loan funds are used and current tax laws.
Texas has specific consumer protection laws governing Home Equity Loans, aimed at keeping borrowers from getting trapped in unmanageable debt. This makes them an attractive option for those with significant equity looking for a stable way to finance large expenses.
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Lone Star Financing is a local mortgage lender for home equity loans in Texas. We offer low rates, in-house underwriting, and unbeatable service. As a direct lender with local expertise, we make home equity loans in Texas easy and hassle-free. Our mission statement is simple: Integrity, customer service and upfront lending. Our goal is to provide every client with transparent and straightforward guidance throughout their entire mortgage journey. It’s this simple formula that has propelled us to one of the top mortgage lenders in Texas.
