TX Cash Out

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I purchased an investment property 4plex in May'09 in TX. I would like to cash out as much as possible, I paid cash. Is there a seasoning requirement and can I use an appraisal as a value?

jenkin7 · Posted: Fri Oct 02, 2009 2:07 am Post subject:

Hi John,

As far as I know, there is a 6 month seasoning requirement for a cash-out refinance in Texas. This implies that if you want to cash out your equity in the property, you must have owned the property for at least 6 months. Since you bought the property in May '09, it is likely that lenders will ask you to wait for a few more months before doing the cash-out refinance.

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