Refinancing a home loan is straightforward process. Providing there is enough equity in a home, a new home loan pays off an existing one and a borrower begins paying on a the new mortgage. As the concept is the same across the United States, all states have rules each lender and borrower must follow on refinance transactions. In Texas, the rules differ slightly from those enforced in other states. Cash-out Refinance Rules. In Texas, refinance transactions where borrowers wish to receive cash are limited to 80 percent loan-to-value (LTV).
This means a new loan amount cannot exceed 80 percent of the value of a home.
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If there is a fee for the changes, rest assured we will be completely upfront about them. Making it fast. While banks require copies of pay slips, bank statements, or other time-consuming documentation, we use safe, fast Proviso technology to obtain 90 days of bank statements online in seconds.
Along with your personal details, this is all the information we need to process your loan. You can feel confident, all systems we have in place offer the utmost security. With MoneyMe, it is very easy to Improve Your Loan Eligibility and you can get cash fast via our Easy Application Process.