Applications Closing December 2022


Homeowners are advised to take advantage of a new Mortgage Stimulus Program before it’s gone. This is likely to be the largest benefit program American homeowners have seen.

This Stimulus Program is aimed to help average American citizens and stimulate the economy. Utilizing this new service could get homeowners $271 /mo* or $3,252* per year!

Banks do not want homeowners to know about these programs as they can greatly lower mortgage payments through this simple Government-backed solution.

We recommend checking your eligibility as soon as possible before deadlines are announced or requirements are changed.

To see if you live in an active zip code, just click below.


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* – Based on Median Home Equity of Americans aged 45 to 54 of $70,000 (U.S. Census Bureau)

Table of Contents

What is a Texas 50a6 Loan

Texas voters have seen many changes in the past year and when it comes to questions about Texas home equity loans there are many. So to save you time on research, we compiled the top 13 questions and answered them all in this article below, enjoy!

What is a Texas 50a6 Loan & I’m I Eligible for It?

Texas 50a6 is a cash-out refinance / home-equity loan passed in November of 2017 (making it easier for Texas homeowners to tap into the equity in their homes, get easier financing, and lessen the amount of mortgage company fees).

How does a cash out refinance work in texas?

Getting a cash-out to refinance on your existing mortgage loan is as easy as applying here, we can answer any questions you may have over the phone or by text.

In the State of Texas, there are no restrictions on how you use the cash, it can be used for anything.. like to pay down higher interest rate debt (credit card, student loans, and so on).

You can now get a home equity line of credit on a variety of properties, once you secure the loan you are able to access that line through a debit card or check.

What are the Fannie Mae guidelines for texas cash out refinance?

  • Minimum Credit Score: 620
  • Maximum Loan to Value: 80%
  • Maximum DTI: 45%*
  • No Bankruptcy in The Last: 4 years
  • No Foreclose In the Last: 7 years
  • No Sales in the Last: 4 years
  • Must be a Texas Resident

How do you get a fair market value of the homestead?

There are 4 ways to get a fair market value of your home:

  1. Use a real estate site like, redfin, and so on.
  2. Get a CMA (Competitive Market Analysis) from your local realtor (many will provide this service for free).
  3. Reach out to your credit union, savings banks, loan association, or mortgage banker for a home appraiser reference.
  4. Check your property taxes.

Do Texas A6 loans require an appraisal?

Yes, a full appraisal is required for all Texas 50a6 & 50a4 loans. No PWI (Property Inspection Waiver) can be used currently.

Can homestead property with agricultural exemptions apply?

Yes, now agricultural use (farming and so on) is eligible for a Texas cash-out, as long as it’s your primary residence.

Does texas 50a6 apply to investment property?

No, Currently only 1 unit single-family homes can use Section 50(a)(6).

How soon can I do a cash out refinance in texas?

You can get another cash-out refi, one year after your last one (for example I just refinance my home in June of 2022, I would need to wait until June of 2023 to get another one). The maximum loan you can get as of 2022 is $647,200.

What is the texas 12 day letter?

As part of current law for Texas 50a6 home equity loans, there is a waiting period on your closing date of 12 calendar days. This is 12 days after you file your loan application and received your copy of the notice of the consumer disclosure before your home equity lending loan closes.

What is the legal limit for closing costs in texas?

The maximum fee for closing costs is $900.

What is an ineligible non borrowing spouse?

Unless the owner of the homestead signed off for his/her spouse with all of the required documents here, then the spouse will not be able to take the loan lien against the real property (aka home).

Can you Refinance a Conventional Loan for an a6 Loan?

The short answer is yes, conventional is eligible for the Texas 50(a)(6). However, if your current mortgage is an FHA, USDA, or VA….. you will not be eligible to refinance according to state law.

How soon can I refinance my house after purchase?

You have to have your current loan for at least 6 months after your most recent closing before you can do a term refinance on your home.

What is a non-home equity loan?

A non-home equity loan is for home improvement, that provides excess funds beyond your home’s appraised value, all the way up to 125% LTV. For Example, if your home is worth $200,000, this type of loan would let you finance the house all the way up to $250,000.

Does Texas allow VA cash-out refinance?

No, as part of the texas constitution it doesn’t allow VA cash-out loans at this time.

How much does it cost to refinance a mortgage in texas?

Speaking generally, most lenders charge 2% to 5% percent of the principal loan amount. For example, if you refinance a $300,000 home, your closing costs could range from $6,000 to $15,000.