Home Equity Loans
Turn your home’s equity into cash. Get the money you need to tackle your financial goals.
Whether you'd like to consolidate your debt, make a major purchase, pay tuition, or turn your house into a dream home, a home equity loan from Texell checks all the boxes.
Why Choose Texell for Your Home Equity Loan?
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- Work with a local Home Loan Hero to help you every step of the way.
- Use the money for almost anything — home improvements, bill consolidation, or tuition.
- Borrow up to 80% of your home’s value with $10,000 minimum loan amount.
- Credit scores as low as 620 and debt-to-income (DTI) ratio up to 43%.
- Low, fixed rates with terms up to 20 years for first home equity; up to 15-year terms for second home equity.
1 APR = Annual Percentage Rate. Rates effective 4/28/2025. All loans are subject to credit approval and individual rates will vary. For complete details about payments, rates, and fees, please visit our rates page or contact Texell. Existing Texell loans not eligible for refinance.
Frequently Asked Questions:
What is a Home Equity Loan?
A Home Equity Loan allows you to borrow money using your home as collateral. It allows you as a homeowner to borrow against the equity of your home. Equity is the difference between your home's market value and how much you owe on your mortgage. Equity grows as you pay down your mortgage and as your home increases in value
What should I expect when applying for a Home Equity Loan?
You can apply for and receive your Home Equity Loan in as little as 12 days. For a less stressful process, you want to apply for your Home Equity Loan 30 days before you need the money. Below are the basic steps you the Home Equity Loan process:
- Apply.
- Relax while we review your application. If we need more information, we'll reach out to you.
- Sign your loan documents.
- Use your funds.
How much can I borrow?
In Texas, you can borrow up to 80% of your home's value. For example, if your home is worth $200,000, the maximum amount you can borrow is $160,000, minus any outstanding mortgage balance. At Texell, our minimum Home Equity loan amount is $20,000 for a first lien loan and $10,000 for a second lien loan.
What fees apply to Home Equity Loans?
At Texell, we do not charge an application fee for Home Equity Loans, and there are no closing costs for Home Equity Loans under $50,000. If your loan amount is over $50,000, additional fees for escrow, appraisals, and other fees are not waived. Contact our Mortgage Loan Officers to answer all your questions about fees.
What types of properties can I use for a Home Equity Loan?
To get a Home Equity Loan, you must occupy the property (it can't be a rental property). The property cannot be a mobile or manufactured home. You can only have one Home Equity Loan on a property at the same time.
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The Home Equity Loan Process
Applying for a home equity loan may seem intimidating, but with a little research, you can feel confident as you start the home equity process.
Pros and Cons: Home Equity Loans for Debt Consolidation
When consolidating debt, you may consider a home equity loan — but it’s not the right choice for everyone.