Cash Out Jumbos
Jumbo Rates Texas offers several jumbo cash out loan options for customers who are interested in taking cash out of their homes. Many Jumbo Loan lenders do not offer cash out jumbo loan options in Texas due to the Texas Home Equity laws. We offer fixed jumbo cash out mortgages, as well as adjustable cash out jumbo loans with lower rates. We of course also offer conventional cash out mortgages (anything under $453.1K in Texas) as well.All Texas Cash Out loans require an applicant to have at least 20% equity in their home – the same rule applies to jumbo cash out loans or to refinance of prior cash out loans. The interest rate on a conventional or jumbo Texas cash out mortgage will be very competitive, but generally slightly higher than purchase or rate/term non-cash out jumbo refinance rates.
Please note that if you have ever taken cash out of your home in Texas, you need to get another Texas cash out loan when you refinance even if you do not take out additional funds. As we mentioned above, Texas cash out refinance laws are a bit complicated (“once a Texas cash out loan, always a Texas cash out loan” is a good way to understand the Texas law on this issue) so a good portion of jumbo investors simply do not offer them or will not offer ARM cash out loans on either the jumbo or conventional side. Here at Jumboratestexas.com we do cash out jumbo loans regularly with both fixed and adjustable rates.
To get a quote for a cash out jumbo loan or cash out conventional loan, either fixed or an ARM, please click “Get Started” or call us at 877-416-3471. We would love the opportunity to help you determine which option might work the best in your scenario.