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FHA CASH OUT REFI IN TEXAS

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Icon Mini Profile richardhines265





Joined: 30 Jan 2009

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Post Posted: Fri Jan 30, 2009 4:02 pm    Post subject: FHA CASH OUT REFI IN TEXAS
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DOES THE STATE OF TEXAS ALLOW CASH OUT REFINANCES ON FHA LOANS? IF SO, WHAT IS THE MAX LTV% THANK YOU.
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

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Location: New Jersey
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Post Posted: Sat Jan 31, 2009 1:59 am    Post subject:
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Hi richardhines

Yes, a cash out refinance on FHA loans are available in Texas. But there are certain requirements for cash out refinance which has been stated in Texas A6 laws. To know more about Texas A6, check out the following link:
http://www.mortgagefit.com/texas/a6loan-law.html#23849

As far as LTV is concerned, it should not be greater than 80% of the home's value.

Thanks.

_________________
Good is the Enemy of Great.
MUNOZBDAN

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Post Posted: Tue Mar 17, 2009 12:37 pm    Post subject: FHA CASH OUT IN TEXAS
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NO YOU ABSOLUTELY MAY NOT DO A FHA CASHOUT LOAN IN TEXAS.

LEARN TEXAS LAW BEFORE YOU CHIME IN WITH BS.

ONCE A CASH OUT IN TEXAS ALWAYS A CASH OUT. SO YOU ARE NO LONGER ELLIGIBLE FOR A FHA ONCE YOU DO THIS.
JBone

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Post Posted: Wed Dec 01, 2010 2:21 pm    Post subject: FHA CASH OUT REFI IN TEXAS
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so are you saying the reason we can NOT do the cashout is because we would no longer be FHA eligible? but wouldn't we still be Conventional eligible?
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

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Location: Alaska
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Post Posted: Thu Dec 02, 2010 3:00 am    Post subject:
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Hi JBone!

Welcome to forums!

If you meet the required criteria of the lender, you'll remain liable for conventional mortgage.

Feel free to ask if you've further queries.

Sussane
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