Overview of Texas Cash Out Loans:
- You can only have one homestead propety
- Texas Cash Out loans are limited to a maximum of 80% LTV
- Only one Texas Cash Out Loan may be given in any 12 month period
- A 12 day "cooling off period" is required before a refinance loan can close.
- A maximum of 3% of the loan amount can be charged to the customer which includes all closing costs
- Once a Home Equity loan is taken on a persons homestead, all transactions following, except for the sale of the property are considered Texas Cash Out loans even if you subsequently refinance the house again without taking aditional cash out.
- Every owner of the property must given the HUD-1 settlement statement for review at least 24 hours prior to closing your loan
For more information on Texas Mortgages vistit Zeus Mortgage at www.AskZeus.com.
Check out or information on Texas Real Estate Investor Financing
Comments