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Company Loan Type APR Est. Pmt.

FHA CASH OUT REFI IN TEXAS

Posted on: 30th Jan, 2009 03:02 pm
DOES THE STATE OF TEXAS ALLOW CASH OUT REFINANCES ON FHA LOANS? IF SO, WHAT IS THE MAX LTV% THANK YOU.
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.
Posted on: 31st Jan, 2009 12:59 am
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.
Posted on: 17th Mar, 2009 12:37 pm
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?
Posted on: 01st Dec, 2010 01:21 pm
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
Posted on: 02nd Dec, 2010 02:00 am
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