TX HELOC and HEL questions

[Connor Heim]

Howdy! Looking into using equity in my home to start investing. From what I understand, TX has some rules that I need to be aware of. HEL can be up to 80% of value, and HELOC up to 50%.

My home is worth about $750K.  I owe about $300K, so we've got around 450K in equity.

According to TX rules, I should be able to get a loan for up to 600k, but since we have 450K equity, would I qualify for a full 450?  Or just 80% of my equity?  

Kind of confused and would love a little guidance.

Thanks!