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Are the rates higher for a term refinance in Texas if you have already done a cashout refinance?

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lilrandom Joined: 23 Dec 2008 Posts: 1 1.29 Dollars($)	Posted: Tue Dec 23, 2008 5:05 pm    Post subject: Are the rates higher for a term refinance in Texas if you ha Like 0 Dislike 0 Are the rates higher for a term refinance in Texas if you have already done a cashout refinance?...the cashout refinance was done over a year ago. We are interested in refinancing the terms of our Texas home mortgage loan to take advantage of the lower rates.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Dec 23, 2008 10:42 pm    Post subject: Like 0 Dislike 0 Hi lilrandom, Welcome to forums! As you have mentioned that it is one year since you took a cash out refinance, I think you will be able to refinance the loan. As far as rates are concerned, I think, you should speak to a few lenders before you decide to refinance the mortgage. There is no rule that you will have to refinance the loan with your current lender. You can also refinance the loan with other lenders as well. However, you should remember that you will have to pay the closing costs when you are refinancing the loan. Feel free to ask if you have further queries. Sussane
dlackey Joined: 05 Jan 2009 Posts: 9 3.77 Dollars($)	Posted: Mon Jan 05, 2009 9:05 am    Post subject: Texas Cash Out Refinance Like 0 Dislike 0 After obtaining your first Texas Cash Out refinance, any subsequent loan on the same property is considered a Texas Cash Out (A6) for the balance of your ownership time. The rate should be the same as any A6 loan regardless of additional cash out or simply refinancing the current balance.

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