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.
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.
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.
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.
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?
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
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