HELOC or Cash-out Refi on Properties in Texas.

[Nico Doss]

Hi all,

Two Scenarios--

1. I am looking to do a HELOC on a rental property in Dallas, TX; however, I do not live in TX. A bank that does HELOCs told me they could not do my HELOC because I had more than two rental properties in my name.

Question--Do you know of any commercial banks that will do a HELOC for the above scenario?

2. I am looking to do a cash-out refi on a rental property in Dallas, TX.  All of the lenders that I spoke with said I could not do a cash-out on a rental property in Dallas because my primary residence is not in the state of TX.  

Question--Are there any lenders out there that can do a cash-out refi on a rental property in TX where the owner lives in a different state?

[Kerry Baird]

Try Hurst Lending, Veritex, Frost and credit unions near your property