Texas - Investment Property Cash-out Refinance

[Alec Vela]

Hey everyone, 

I recently purchased my first buy and hold investment property and ran into an issue with my lender. 

My lender is telling me, 40 days into the cash-out refinance process, that in Texas, you are not able to take cash out on an investment property, only on primary residences. 

From everything I’ve read, and from people that I’ve spoken with, this seems to not be the case. 

My loan is currently sitting with a hard money lender and I’m looking to refinance out as soon as possible! 

[Polo Vazquez]

I've done cash out refinances on about 4 investment properties in Texas. Most lender will only go to 75% loan to value. I actually did one with @Andrew Postell. He was able to give me 80% back. I'vef also used better.com, and South Texas Federal Credit Union. Send me a dm if you want more details.