Texas cash out financing

[Jason Smith]

Currently own a rental free and clear in the Fort Worth area and I would like to find a lender that offers a 30 year fixed cash out allowing 80% LTV.

Apparently this seems to be a unicorn and hard to find or at least hard for me to find.

Can anyone advise as to anyone that lends in Texas that can do this?

[Chris Mason]

@Andrew Postell will tell you about the Texas-specific cash out refinance laws.

Ask you skim through lender/Fannie/Freddie/etc guidelines, you frequently see "Cash out refinance rule is bla bla bla bla" and then a note at the bottom: "Except in Texas, where bla bla bla bla." Being that I'm not licensed in Texas, I never read the second set of "bla bla bla bla."