refinance of a second home in texas

Guest

can you refinance a second home in texas to pull some cash out?

Guest

Hi John,

I am not sure if you can do a cash out refinance on your second home in Texas. I think you can do that only on your primary residence. You have to check that out.

ckalvesmaki · Posted: Tue Dec 04, 2007 5:59 am Post subject:

Yes.......You can do a cash out refi on a second home in TX.......

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.11 Dollars($)

Yes, max 80% of the home value.

larry · Joined: 27 Jun 2007 Posts: 3328 474.61 Dollars($)

Hi John,

I agree with Cedric that you can do cash out refinance even on second home in Texas to pull out the equity that you have gained so far. Rates are low now. So it is a good idea to pull out the equity now. Shop a bit for lenders. You can get lender's list from all over the United States at - http://www.mortgagefit.com/unitedstates/

Feel free to ask if you have any further questions.

Best of luck,
Larry

ckalvesmaki · Posted: Fri Feb 15, 2008 8:17 am Post subject:

Lisa,

Second homes in TX are NOT covered under the A6 laws in TX......so there isn't a 80% requirement......that only applies when there is a homested exemption.......

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