How does the Texas A6 apply?
We owned our house and then about 11 years ago took a loan out on the value for 136k. We are wondering if we want to refinance how this would apply. by scrapco from Grand Prairie, Texas. Apr 29th 2013
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions
Texas A6 simlpy means that if you EVER did a cash out refinance on your home then any refinances done therafter are also condiered cash out.
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
Lending rules have changed in Texas in the last few years. Contact one of the fine lenders on this forum.
Al Rodenburg (mortgageoffice)
#167 ranked lender in Texas - 6 contributions
If your Loan To Value (LTV) is 80% or Less, then you can refinance to a Lower rate now. LTV is calculated by dividing Loan Amount by Value. Rates on Texas A6, cash outs, are typically a little bit higher (and title insurance is higher than a normal refinance), but with Rates where there are, it might be worth your while.
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