As the concept is the same across the United States, all states have rules each lender and borrower must follow on refinance transactions. In Texas, the rules differ slightly from those enforced in other states. Cash-out Refinance Rules. In Texas, refinance transactions where borrowers wish to receive cash are limited to 80 percent loan-to-value (LTV).
This means a new loan amount cannot exceed 80 percent of the value of a home. A loan-to-value ratio is calculated by dividing the new loan amount by the value of the property. For example, if a borrower seeks a 75,000 mortgage on a home worth 112,000, the LTV would be 67 percent, and allowed under Texas law.
BEWARE OF SCAMS. Eagle will never ask you to send us cash, money orders, or gift cards as a condition to loan approval.
In addition, we do not send loan checks by mail. If you are approved for a loan with us, you will close your loan in one of our offices with a member of our friendly staff. We also do not accept online payments or use text messaging for payment reminders.
If you have any questions, please call your local office. Over 90 Approval Rate.
Cash loans up to 5000. Simple Online Form Fast Access to Funds. Quick Application. Submit online in a few minutes. We Work For You. All credit types welcome.
With our medium secured cash loans, there is an establishment fee of 400 plus additional fees of 48 per annum, with a 66. 0347 (based on a 2,500 loan for 2 year with a 400 establishment fee). To give you an example of how much this type of loan would cost, say you would like to borrow 3,000, that you repay over 18 months: Establishment fee of 400 Additional fees of 1,378.
87 The total repayment amount is therefore 4,840. 14 You can either repay it in weekly installments of 61. 19, fortnightly installments of 122. 77 and monthly installments of 268.