Seeking cash out refinance 75% LTV DFW Texas

3 Replies

Hello Bigger Pockets world! Need a some assistance in locating a portfolio lender in the DFW area.

I am looking to put some debt on a rental I own. Ideally with the goal of pulling some cash out in a best case scenario.

Bought the house cash and all in about 100k. It’s worth 160-170k. Would like to pull 115k out if possible.

Anybody using a local bank that is doing 75% LTV?
I had a bank from LA, Cali working on it but last minute they changed the terms to 65% LTV and I was not happy.

Thanks in advance everyone!

Is there a specific reason you are looking for a portfolio loan rather than conventional? 

@Shon Ben-Kely I've used Jerry Padilla (he's on BP, can't tag him for some reason) for a few cash out refis recently.

75% LTV, 4.75% interest. Not a portfolio loan, it's fully conforming. The only downside to that I can think of is in most cases you would need to wait 6 months after purchase to pull out more than initial purchase price.

@Shon Ben-Kely Justin State Bank is a good lender here locally for portfolio cash out loans.  They do have some location restrictions (they won't lend below I-20 for example) since they are a community bank but they would be a good option.  I would also state that there are lots of regular lenders that can meet the 75% ratio without a portfolio loan but if you need that loan type for a specific reason then they are a good bank.  Thanks!

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