Want to refi after a prioe cash out in Texas.

Yes, connect with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. A mortgage professional in your area can tell you what you can qualify for now, and if necessary, what steps to take to get the best possible loan program for you. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Yes, you can refinance and take cash out up to 80% of the appraised value of your home.... Texas has rules that are a part of its constitution, so they cannot be changed or waived. There are also other restrictions regarding home equity lines of credit and the number of times you can tap into your equity, so it's best that you talked to someone local. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hi Don. From what you've provided, a VA cashout is definitely my first thought. I am a local mortgage banker (Austin, Texas) and frequently work with VA loan products. Like William mentioned and as Texas law dictates, we are capped at an 80% loan-to-value on cash-outs; but, assuming your estimated home value and credit scores are pretty accurate, we should be able to consolidate your two existing mortgages along with your additional debt and still be within guidelines. Of course there are several other qualifying factors that must be reviewed so, if you would like to explore this refinance opportunity further, please contact me at (512)381-4657 or visit my website at www.chrissamples.com. And while I am located in Texas, I lend in 49 states so, if you have additional properties or have any friends or family who you think may benefit from my services, please feel free to pass along my infomration. Thanks so much and Happy Holidays!