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Is it possible to get a cash out refinance loan on a rental property in Texas?

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Guest	Posted: Mon Jan 18, 2010 12:31 pm    Post subject: Is it possible to get a cash out refinance loan on a rental Like 0 Dislike 0 Rental property is not my residence. I was told that in Texas you cannot get cash out on a rental. Just wanted to confirm this.
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Mon Jan 18, 2010 8:26 pm    Post subject: Like 0 Dislike 0 Hi Guest, As far as I know, you'll be able to refinance your current mortgage and cash-out the equity in your property up to an 85% LTV on a rental. If you take loans over 80% of the value of the property, then you would require a mortgage insurance. I would suggest you to contact your local lenders and check out with them once again. You may even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will help you know whether or not you would get a loan. Thanks

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