a6 rules and cost of refi

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a6 rules and cost of refi

jameshogg

Posted on: 27th Jan, 2011 08:00 pm

I had my home paid off about 6 years ago and took some cash out (40%). My rate was 6.5 , now I want to get a lower interest rate and my bank is telling me I can't because in texas they can only charge 3% of loan amount and they will not make enough to cover third party cost.

So they mean they a small loan, once cashed out is not possible to get the loan.

What is this?

Total Reply : 1

hi rjontilt,

if you have equity in your property, then you should be able to get a normal cash out refinance. i will suggest you to speak to other local lenders of your area and apply for a mortgage refinance with them.

thanks

jameshogg

Posted on: 27th Jan, 2011 11:01 pm

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