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What are all the guidelines for Texas Refinances?

Posted on: 12th Dec, 2007 02:34 pm
I need to know all the guidelines regarding Texas Refinances.
Hi kitz,

There is an article regarding Taxes Refinance and mortgage laws. You can check it out- http://www.mortgagefit.com/texas/laws.html

Hope this will serve your purpose.

Thanks,
Larry
Posted on: 12th Dec, 2007 03:28 pm
Welcome Kitz,

I think you are into refinancing a loan in Texas but what guidelines are you looking for? The general guidelines for refinancing hold true in case of Texas Refinance also. But are you pulling cash out of your equity? If that is so, then it's a cash-out refinance and in Texas there's an A-6 Law which regulates such a type of refinance. And, as per the A-6 Law, you will not be able to borrow more than 80% of your home value.

To know more on Texas Cash-out Refinance, refer to http://www.mortgagefit.com/texas/a6loan-law.html .
Posted on: 13th Dec, 2007 03:23 am
It might actually be easier if you posted your scenario........There are numerous guidelines depending on the occupancy of the home.....doc level etc.......
Posted on: 13th Dec, 2007 06:20 am
Does the Texas law allow a refinance of a mortgage where cash was taken out more than 12 mos ago but not cash is being requested on this refinance but the LTV is NOT 80% at this time?
Posted on: 13th Dec, 2012 02:34 pm
Hi Trish,

If the LTV is not 80%, then taking out a cash refinance will be difficult.

Thanks
Posted on: 14th Dec, 2012 12:19 am
There isn't any cash being taken out in this refi - the refi that happened a few years ago was when the cash was taken out...
Posted on: 14th Dec, 2012 06:37 am
In TX - once there is cash taken out all future mortgages are considered cash out. Which means strciter guidelines for underwriting, lower LTV requirements, hire rates etc.
Posted on: 14th Dec, 2012 08:43 am
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