Home Equity Loans

Texas Home Equity Loans
Texas home equity loans are loans for the difference between what your house is worth (market value) and how much principal is left of your current mortgage. Texas home equity loans are a great way for homeowners who wish to refinance and take only a portion of the home equity, and do not need a complete new mortgage.

For example, if your house is appraised at $100,000 and your outstanding mortgage balance is $50,000, you have $50,000 in home equity that you can take a loan out against.

Texas home equity loans are limited to 80% LTV (loan to value) to borrow money on the equity you have built in your home. This means you would be able to borrow 80% of the $100,000 or $80,000. You could take as much as $100,000 ( less closing costs) equity out of your home. The difference between amount borrowed and the amount of current mortgage balance is the maximum amount of allowed on Texas home equity loans.

Knowing the Texas market, Magellan Mortgage has maintained outstanding relationships with many Texas home equity lenders and banks. Our specialty is Texas home equity loans. Let Magellan Mortgage be your Texas home equity lender.

Apply online for quick pre-approval. It only takes only a few minutes. A loan consultant will get back with you shortly with answers regarding your Texas home equity loan.