Second Mortgage in Wichita Falls

No, if the rental is not your homestead. Article XVI, section 50 of the Texas Constitution permits liens on a homestead only for a closed list of debts, and the home equity rules on that list (consent of each owner and spouse, total homestead debt capped at 80% of value, a 2% fee cap with exclusions, foreclosure only by court order) protect the homestead. A rental you do not live in falls outside them, and a second lien on it is an ordinary deed-of-trust lien. Homestead turns on use and intent, and title companies can treat a borrower's only Texas residential property as homestead by default, so expect occupancy to be checked, not assumed. This is not legal advice; your attorney or title company has the final say. Terms are on the second mortgage program page, and the Texas investment property second mortgage guide goes deeper.

With the county clerk where the parcel sits. The metro is three counties. The city of Wichita Falls, Burkburnett, Iowa Park and Electra are in Wichita County; Holliday, Lakeside City and Archer City are in Archer County; Henrietta is in Clay County. Check the parcel's county, not the mailing city. The Archer County Clerk's schedule effective January 1, 2024 lists $25.00 for the first page and $4.00 for each added page, and the Clay County Clerk's schedule effective September 1, 2025 lists the same, so a 6-page deed of trust would run $45 at either ($25 + 5 x $4), as an illustration. Both clerks link CSC eRecording. We did not verify Wichita County's fee schedule or e-recording, so confirm both with that clerk or your title company. Include each grantee's mailing address: the clerks' schedules add a penalty of the greater of twice the filing fee or $25 when it is missing, under Property Code section 11.003. County fees are not USAM terms.

A first-lien sale can wipe out the second, and sales run on the first Tuesday. Property Code section 51.002 sets Texas trustee sales between 10 a.m. and 4 p.m. on the first Tuesday of the month at the county courthouse, or at an area the commissioners court designates, after at least 21 days of notice posted, filed and mailed. The posted notice names the place, so read it rather than assuming. The Texas Supreme Court has held that foreclosure of a senior lien extinguishes inferior liens, so a second holds its value only while the first stays current. That is why combined loan-to-value counts every lien. See lien position explained.

Register for Hotel Occupancy Tax before advertising. Anyone renting a property for 30 consecutive days or less needs a Hotel Occupancy Tax Registration (one per rental, no fee) before advertising or renting. The city tax is 9.00% of gross rent, including cleaning, booking and pet fees, on top of the state's 6%. Airbnb and Vrbo do not collect the city tax, so the owner files, monthly or quarterly if approved, by the 20th. Short-term rentals are eligible for our second mortgage. Confirm the current rules with the city, including who can hold the registration if the property sits in an LLC, which we could not confirm. We did not find or verify a separate permit, cap or zoning rule, so do not assume either way. A news story about a landlord registry is about Wichita, Kansas.

Texas decides that by purpose. Finance Code chapter 342, the secondary mortgage loan chapter, covers a loan only if, among other conditions, it is extended primarily for personal, family or household use, and the residential mortgage licensing chapters use the same test. We found no Texas regulator guidance on business-purpose seconds specifically, so this describes the statutes and is not a licensing opinion. Talk to your attorney about your own structure.

The full investor rate, and a $50K floor that low prices can trip. A rental gets no homestead exemption. The Wichita Appraisal District's 2026 adopted city rate is 0.677900 per $100, and the stack for a city parcel in Wichita Falls ISD is 2.231167. Archer and Clay County parcels sit on other appraisal rolls. On a $174,273 value, the Zillow city mid-tier in September 2026, 80% combined loan-to-value allows $139,418 of total debt ($174,273 x 0.80). A first mortgage above $89,418 would leave less than the program's $50K minimum. That is an illustration, not an offer. Run the payment side with the second mortgage calculator. Talk to your CPA about your own figures.