Texas home equity loans
Home equity loans, a type of second mortgage, are also big in Texas. Many homeowners pursue them when they need money to cover big, one-time expenses. Rates on Texas home equity loans tend to be higher than those offered on first mortgages. But there are times when paying that higher rate makes more sense than a lower rate Texas refinance. Maybe you already have a great rate on your first mortgage. Or maybe you want to avoid paying the big closing costs that you typically encounter when refinancing.
