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Mortgage Community Forums | Looking for Mortgage again | Refinance with cash out in Texas

Refinance with cash out in Texas

Posted on: 14th Jan, 2014 11:39 pm
Will it be possible for me to get a refinance with cash out in Texas? I have a credit score of 625.
Hi Danny,

It may not be possible for you to get a conventional mortgage refinance with a credit score of 625. However, you can check out the option of FHA loan.

Thanks,

Jerry
jerry
Posted on: 15th Jan, 2014 12:38 am
FHA is a possibility however Texas has its own rules about cash out - You cannot get more than 80% of the value of the home on a cash out loan

Good Luck
Brian
brian1
Posted on: 15th Jan, 2014 10:01 am
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