ServicesHELOC
HELOC in Bee Cave
A home equity line of credit lets you borrow against the value you have built and leaves your first mortgage just as it is. We see whether a credit line works before suggesting anything bigger, and we tell you plainly when a refinance would be the better fit.
Leave Your Mortgage Alone, Draw What You Need
A HELOC is a second lien that acts as a credit line backed by the property. During the draw period you take funds when you need them and pay interest only on the amount used, then you shift into a repayment period. Your first mortgage, its rate and its payment stay unchanged.
That is the reason we often begin with a HELOC. If you locked in a low rate a few years back, trading the whole loan for a cash-out refinance just to reach some equity can cost you more than it brings in. When a credit line covers the need, we tell you. When your first mortgage rate is high, or you need a single large sum, we show you the refinance figures and let you compare.
Your loan officer has 11 years in the mortgage industry and 10 years holding an NMLS license. We meet at our office or by phone and video, whichever you prefer.
What We Take Care Of on a HELOC
- 01
Reviewing your equity and rate
We begin with your current balance, your rate and an estimate of what the property is worth now. That shows how much equity you can realistically use and whether holding on to your first loan is wise.
- 02
A line that matches the purpose
A kitchen remodel, a pool or several years of tuition each need a different limit and draw plan. We fit the line to the use so you are not holding more credit than necessary.
- 03
Texas homestead rules in plain words
Texas handles home equity lending unlike most states. We explain the 80 percent combined loan-to-value limit, the required notice period and where the closing has to happen.
- 04
Compared against a cash-out refinance
When a refinance could be the stronger option, we set the two next to each other with payments and closing costs. You make the call seeing everything.
- 05
Handling the appraisal and title
We order the appraisal, coordinate with the title company and update you as each item comes in.
Questions about HELOC?
Call(512) 881-7587Signs a HELOC Could Suit You
Your first mortgage rate is a keeper
When current rates are above the one you hold, a credit line gives you access to equity while you keep that rate.
Your project gets paid in phases
Renovations and additions seldom come due all at once. With a line you draw as each invoice arrives and pay interest only on what you have spent.
Expenses that come back for a few years
Tuition or planned medical costs spread across time fit a revolving line better than one lump-sum loan.
You want a backup, not a balance
Some owners open a line and never touch it, keeping it as a safety net. It is inexpensive to keep open and ready when a real need arrives.
High-rate debt is a burden
Shifting balances to a lower-rate line can cut your monthly costs. We will be honest about the risk of tying that debt to the property.
How a HELOC comes together
- 1
Pre-qualification call
We talk through your goals, your current mortgage and your income. You come away knowing roughly what line you may qualify for and whether a refinance deserves a look.
- 2
Application and documents
We take the application and gather income records, your mortgage statement and proof of property insurance. We tell you exactly what is needed so nothing is requested twice.
- 3
Appraisal and Texas notice period
The appraisal confirms value. Texas law requires a waiting period of at least 12 days after you receive the required notice before closing, and we plan the timeline around it.
- 4
Closing and access to funds
Texas home equity loans close at the office of a lender, attorney or title company. After a short rescission period, your line opens and you can begin drawing.
What Drives Your HELOC Rate and Costs
Most lines have a variable rate linked to an index like the prime rate, plus a margin based on your profile. Closing costs tend to be small next to a full refinance, but they still exist. You get rate quotes and a written breakdown before you commit.
- Total loan-to-value
- The more equity that remains after your first mortgage and the new line, the better your pricing usually is. Texas limits the combined total to 80 percent of value.
- Your credit and income
- Your credit score and debt-to-income ratio determine the margin added on top of the index.
- Line amount and draw setup
- How long the draw period runs, and whether you take money out at closing, can change the terms.
- Appraisal and title work
- The type and size of the property, along with the title work a second lien requires, all feed into closing costs.
Common HELOC Questions
Does a HELOC change the mortgage I already have?
No. The line is its own loan, sitting behind your first mortgage. Your current rate, balance and payment do not change.
In Texas, how much of my equity can I borrow?
Texas keeps all loans on a homestead at or below 80 percent of its appraised value. We take your current mortgage balance off that amount to find the largest possible line. Your credit and income then decide what you actually qualify for.
Is a HELOC available on a rental property?
The Texas home equity lines described here are for your homestead. For funds against an investment property, ask us about hard money loans or bridge loans, which are designed for that.
Will my rate be fixed or variable?
Most lines are variable and move with an index, so your payment can go up or down. Before you apply, we explain how the margin and any rate caps work.
When would a cash-out refinance be the better choice?
When your first mortgage rate is near or above current rates, or when you need one large amount and want a fixed payment. Then replacing the loan may be simpler, and we will show you why using real numbers.
Talk through your equity before you decide
A short conversation tells you what line you may qualify for and whether keeping your first mortgage is the smarter move. We are glad to run both options.