Investment Property HELOC in Texas

[Alex R.]

I've called several lenders in the Texas area and was informed that a HELOC is not available to investment properties located in Texas (due to some Texas legislation). However, HELOC's are only available to primary resident properties only. I'm confused because several posters in the DP threads stated that they've taken HELOC on investment properties in Texas.

I've also been informed that the only way to get cash out of these investment properties is to do a refinance. I am trying to avoid this because this would mean additional costs.

If you've been able to obtain a investment HELOC for investment property in Texas, please confirm that you've been able to do so. I'm trying to clarify and correct previous DP threads.

Thank you in advance. :)

Alex

[John Broussard]

That is correct the only way to get cash out on a investment property is to do a refi cash out, no HELOC.