Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

What is the law in Texas for refinance cash out?

Author Message
Icon Mini Profile andy_andydo





Joined: 15 Jul 2008

Posts: 1

1.30 Dollars($)
Post Posted: Tue Jul 15, 2008 9:43 pm    Post subject: What is the law in Texas for refinance cash out?
Like 0
Dislike 0

I would like to refinance my home loan to take out some cash to pay off my car payments. Is there the law in Texas that no cash out refinance?
Icon Mini Profile brian1
brian1
Community Expert
Community Expert

best lender badge

Joined: 14 Jun 2008



Posts: 448
Location: Northern California
15.61 Dollars($)
Post Posted: Tue Jul 15, 2008 10:04 pm    Post subject:
Like 0
Dislike 0

no more than 80% of the homes value may be cashed out.

Brian

_________________
Licensed Broker 50 states
http://www.aimwithfocus.com Live Chat available
Need quick advise email or PM Glad to help
Pre-approvals www.applyonlinesecure.com
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

Posts: 4770
Location: New Jersey
499.28 Dollars($)
Post Posted: Wed Jul 16, 2008 4:54 am    Post subject:
Like 0
Dislike 0

Welcome Andy.

You can do cash out refinance but it should not more than 80 percent of the home value. Is it your primary residence? For cash out refinance, it should be your primary residence. If you want to know about the unique requirements of cash out refinance in Texas, take a look at http://www.mortgagefit.com/texas/a6loan-law.html

Hope this helps. Let me know if you have any more queries.

_________________
Good is the Enemy of Great.
Icon Mini Profile kpatrick
kpatrick


best lender badge

Joined: 29 Oct 2007

Posts: 155
Location: Atlanta, Georgia
41.72 Dollars($)
Post Posted: Thu Jul 17, 2008 2:13 pm    Post subject:
Like 0
Dislike 0

And you have to wait at least 12 months in between c/o refis.
_________________
(770) 886-3140
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.082 seconds.