Financing in Dallas>Question Details

Herroncm, Other/Just Looking in Dallas, TX

Can you still do a cash out refi and to what LTV?

Asked by Herroncm, Dallas, TX Thu Jun 24, 2010

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My question is how long are you intending keeping the property THERE ARE FEES involved is it worth the expense?

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Thu Jun 24, 2010
Yes up to a max LTV of 80%. Once you do a cash out in the future if you ever want to just refinance the loan is always considered a cash out and is subject to the slightly higher interest rates and the maximum 80% LTV.
0 votes Thank Flag Link Thu Jun 24, 2010
Yes you can still do a cash out! If you are doing a cash out on your primary residence in the state of Texas, it can not exceed 80% of the value of the home. The closing costs are included into the loan. Most lenders will not go below $75000 for a loan. You can only do a cash out as a conventional loan. Right now with the rates so low, this is the best time for a cash out loan. My company works with several lenders that still do cash outs, so it makes it easier for me to pull credit once and find the lender that matches your specific criteria. If you would like to know more about cash outs, just email me at or call 214-405-7264. I will be happy to answer your questions.
Have a Great Day!
Sera Smith
Loan Officer
Bluesky Lending
0 votes Thank Flag Link Thu Jun 24, 2010
Contact Robb McKinnon at Republic State Mortgage, 817-490-9797; 817-291-6561.
0 votes Thank Flag Link Thu Jun 24, 2010
You can do a cash out refinance in Texas up to 80% Loan to value. You can do one every 12 months. Just remember...Once a cashout, always a cashout for future pricing. (A6 Guidelines) You have to be vested on title for 12 months to take cash out. Rates can be slightly higher because the risk factor is slightly higher. There are 2 types you can get...a line of credit (HELOC) and fixed lump sum loan. You can only have 1 C/O loan at a time on a property in TX. If it is an investment property, TX A6 guidelines do not apply. Call me if I can answer any questions for you. Hope this helps.

Amit "AV" Vaghela
Supreme Lending Mortgage Banker
0 votes Thank Flag Link Thu Jun 24, 2010
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