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goodfaithrealty · Joined: 20 Jul 2009 Posts: 2 1.27 Dollars($)

Texas Cash Out Guide Lines? 2004 we did a Texas Cash on our property, just a few weeks ago we went to Quicken Loans for a Texas Cash out and we finally got the ok, appraisal was in everything was good the numbers were all worked up closing on 8/4/2009, today the LO said Underwriting said no because we didn't have 3 of the 5 public utilities. That wasn't an issue before with Chase Bank in 2006, so is it now an issue due to changes in the Texas Cash out guidelines?

savior70 · Posted: Tue Jul 21, 2009 4:43 am Post subject:

Hi,

As far as I'm aware of, according to the Texas A6 refinance underwriting guideline a property must have at last 3 of the following 5 services, provided by a municipality: electricity, sewer, natural gas, storm sewer and water. So, if the property lacks any of the 3 utility services, it will not qualify for a Texas cash out refinance.

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