Here’s how to get cash out of your house in Texas…
There are owner Occupied Cash Out Loans, and Non Owner Occupied Cash Out Loans.
…I’m going to tell you how each one works. …and, then how to get your loan started.
How to get an Owner Occupied Texas Cash Out Loan:
State of Texas Rule: You can only get cash out on your house up to 80% of the loan to value ratio. In other words mortgage companies can only lend up to 80% of the appraised value.
You can have a credit score all the way down to 620 and still get a conventional Texas Cash Out Loan. …30 year fixed, 20 year fixed, 15 year fixed, or an ARM.
In Texas the loan will fund three days after the loan closes. This is a mandatory 3 day wait. …then you can get your cash!
How to get a Non Owner Occupied (Investment property) cash out loan in Texas:
You don’t have to wait the 3 days for funding on this loan because it’s non owner.
Max loan to value ratio is 75% of appraised value. …and, we can lend on credit scores down to 620!
If you would like to be pre approved for a Cash Out Loan right now click this button: