Actually, Texas only has unusual rules on home equity loans. Second liens have always been available.
I find it is best to avoid jumbo financing and go with a conventional first lien and a second lien for the remaining amount.
Perhaps the best answer on whether to choose a jumbo vs a first and second is to count the costs of each loan. Take a five year mortgage holding period – just to keep it simple – and look at the closing costs, loan fees and points and interest rates. Over the next five years, which loan is the best financial option?