Compare Mortgage Quotes

budkinimaka · Joined: 08 Nov 2007 Posts: 1 1.36 Dollars($)

We want to refinance with a homelender (Amerisave) with cashout but was told by another lender from out of state that Texas is the only state in the US that does not allow a cash out with refinancing however a straight refinance is ok. Have you heard of this law? We would like to do business with Amerisave and they have assured us no problem with cashout however wanted to make sure there will be no problems with the cashout.

thankyou

jenkin7 · Posted: Fri Nov 09, 2007 12:31 am Post subject:

Hello Budkinimaka,

There is no reason for you to worry. You can get a cash-out refinance in Texas.

What rate are they offering after refinance? Is that a much better one than the previous?

jerry · Posted: Fri Nov 09, 2007 10:32 am Post subject: RE: texas cash out refinance law

Well budkinimaka, it's not that cash-out refinance isn't available in Texas but there's a restriction. You cannot do a cash-out refinance for an amount more than 80% of the property value. This is known as the Texas A6 Law.

Thanks,

Jerry

Posted: Wed Jan 23, 2008 8:17 pm Post subject:

I would think that the oneline application would when you enter your imformation, give you your available options.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

Can you refinance with cashout in Texas from a home lender o

Financial Tools

Our Community

Community Rewards

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1