Having troubles refinancing in texas

[Corey Stewart]

When I went to refinance a home in dallas I was informed by multiple banks stating that I could not refinance for a cash out. I am more than happy to read up on this, can someone lead in the right direction?

[Ryan Kelly]

You may not have enough equity built up on your property. Banks will only lend up to 75-80% cash out refis, meaning you need to keep 20-25% equity in the property. If you don't have enough equity over 25%, there isn't any money you can cash out.