Posted on: 08th Apr, 2009 01:31 pm
I'm unfortunately in Texas. I keep hearing conflicting answers. Wells Fargo offered 10% interest rate on cash-out, but insists that 80% rule applies. I use to work for Countrywide in the 90's and we did investment cash-outs up to 90%. Now Countrywide is saying that you can't do cash-outs on investment property at all. Anyone know the answer?
Hi
I haven't heard that an investment property cannot be refinanced in Texas. A cash-out refinance on an investment property is very much possible, as far as I'm aware of. However as per the Texas A6 laws, you cannot refinance more than 80% of the property's current appraised value.
I haven't heard that an investment property cannot be refinanced in Texas. A cash-out refinance on an investment property is very much possible, as far as I'm aware of. However as per the Texas A6 laws, you cannot refinance more than 80% of the property's current appraised value.