Posted on: 15th Jun, 2011 07:15 am
five years ago, i consolidated a 1st and a 2nd which was classified as a home equity loan. i now would like to get a 15 year loan at the current interest rate which is 2 points lower than i currently have but the lender is saying that the minimum i can borrow is 150k under the texa6. i only want to refinance my current loan balance which is 100k. is there anyway around this and will i be able to finance for 15 years on the new loan? the house is valued at way over 200k. so the loan amount to value ratio is ok.
rda
rda
Hi RDA,
I haven't heard of minimum loan amount to be borrowed under Texas A6 laws. You should speak to other local lenders and check out if they can offer you a loan for the amount that you require.
Thanks
I haven't heard of minimum loan amount to be borrowed under Texas A6 laws. You should speak to other local lenders and check out if they can offer you a loan for the amount that you require.
Thanks