Fannie Mae Texas Home Equity 50(a)(6) and Non-Home Equity 50(a)(4)

A Texas 50(a)(6) loan (home equity/ cash out refinance) is a loan originated in accordance with and secured by a lien permitted under the provisions of Article XVI, Section 50(a)(6) of the Texas Constitution, which allows a borrower to take equity out of a homestead property under certain conditions.

A Texas 50(a)(4) (non-home equity) is a rate and term refinance of an existing Texas home equity (50(a)(6)) loan. You can keep the Available with financing up to 80% LTV and a minimum qualifying credit score of 620, the Texas Equity program provides many borrowers with effective home financing.