Help! Do Section 50(a)(6) restrictions apply to ALL refi's in Tx?

[Jessica Phillips]

Hi BP community!

Looking for an expert in Texas lending to correct my wayward thinking. I have an investment property in the Houston area and I live out of state. I talked to my current lender about doing a cash-out refi and was told that because I don't have a homestead in Texas, I can't do a cash-out refi. The agent cited the restrictions of a Section 50(a)(6) loan, and while I think she's correct about that type of loan, I don't think that law is intended to restrict ALL cash-out refis in the state. Am I wrong? FWIW, I'm only attempting to borrow 80% LTV.

Thanks!