Family · Texas
Probate / Inherited Property in Texas
Inherited a Texas property? Refinance to pay off heirs, fund renovations, or hold the home long-term.
Common challenges we solve
- Need to buy out siblings or co-heirs
- Estate isn't fully closed yet
- Property needs work before refinance
- Reverse-mortgage payoff coordination
What you get with Lumos
Probate refi to distribute estate fairly
Cash-out for repairs or estate taxes
Investor refi if you'll rent the property
What's different in Texas
In Texas, heirs sometimes receive title through probate, a small-estate affidavit or an affidavit of heirship, and lenders review which method was used. If an heir living in the home takes cash out of a Texas homestead, Section 50(a)(6) rules apply: an 80% combined loan-to-value cap, a 12-day notice before closing, and one such loan every 12 months.
Loan programs that typically fit
Frequently asked
- Can I refinance before probate closes?
- Often yes, with an executor's deed and attorney coordination.
- How is value determined?
- Standard appraisal — the stepped-up basis may also help with taxes.
- Can I pay off an existing reverse mortgage?
- Yes — we can refinance the HECM balance with a standard mortgage.
