Updated about 4 years ago on . Most recent reply
Cash-out refi of an investment duplex in Texas
Help please!
I am trying to do a cash out refi on an investment property I own in Dallas, TX. However, I just spoke with someone from Quicken Loans in Texas who said it was impossible/against the law because you can't do cash out refi's on investment duplexes. Only single family homes or large developments (more than 4 units) were allowed for investment cash outs.
This seems very strange to me, but reading online has just made things less clear. Is is possible to do a cash out refinance for an investment duplex in Texas? Do I need to have my primary residence in Texas? Any advice/help is much appreciated.
Thanks so much!
Kelly
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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@Leslie Daphne thanks for reaching out here. Yes, 100% guaranteed that you can get a cash out loan on an investment property here in Texas right now. Even if it's a duplex. Feel free to ask anything else additional if you need. Thanks!
@Manaia Alalamua thanks for the mention!