Posted on: 17th Feb, 2010 08:53 am
I own a 45 ac with moble and barns in Sanger Texas . I own nothing but I'd like to get a cash out loan . Is this something you can make happen in Texas
If your property is free and clear, then you can apply for a normal conventional loan with your lender. Depending upon your financial situation and credit score, the lender will let you know whether or not you would get a loan.
If its a mobile home w/45 acres and your 62 or older you may be able to cashout with a reverse mortgage. Your mobile home would have to meet FHA guidelines.