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want conventional rate to term refinance for conventional loan with a renewal and extension of liens against property

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Guest	Posted: Tue Nov 23, 2010 6:19 pm    Post subject: want conventional rate to term refinance for conventional lo Like 0 Dislike 0 In texas can a refinance of a conventional loan with a renewal and extension of liens against property be a conventional loan and not a texas home equity loan?
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue Nov 23, 2010 9:07 pm    Post subject: Like 0 Dislike 0 Hi Guest, A refinanced home loan won't be considered as a home equity loan. It will be considered as a new loan on the property. Thanks
GNero Guest	Posted: Thu Feb 17, 2011 1:38 pm    Post subject: TX refinance Like 0 Dislike 0 Yes, a rate and term refinance is not considered a TX "Home Equity" under TX Constitution 50(a)(6) when there has never been a previous "Home Equity" loan on the property. So if you want to refinance a purchase money mortgage with no cash out it would be a renewal and extension.

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