3% Limit TX Cash Out

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Icon Mini Profile lshaw





Joined: 10 Sep 2008

Posts: 1
Location: Austin, Texas
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Post Posted: Wed Sep 10, 2008 4:24 pm    Post subject: 3% Limit TX Cash Out
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Can you tell me what charges are included in the 3% for Texas Cash out Refinances on the borrowers primary residence?
Icon Mini Profile helping_user
helping_user




Joined: 31 Mar 2006

Posts: 806
Location: Hawaii
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Post Posted: Thu Sep 11, 2008 1:18 am    Post subject: RE: texas cash out refinance charges
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Welcome lshaw.

The fees paid by the borrower for Texas cash-out refinance are limited to 3% of the loan amount. The 3% fees include origination and lender charges, third party fees such as credit report fee, appraisal fee, and title insurance premiums. Certain charges like lender paid fees, flood insurance premiums, home insurance premiums, property taxes etc are excluded from the 3% limit.

Thanks.
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