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Texas Cash-Out Refinance

Texas Cash-Out Refinance is here

Impac Mortgage corp. Wholesale is ready to take on your owner-occupied properties located in Texas with new or existing Texas Section 50 (a)(6) loans.  State-specific regulatory requirements supersede all underwriting guidelines set forth by Impac Mortgage Corp. Wholesale.  If the first or second Texas Section 50(a)(6) loan is being paid off, regardless of whether the borrower is getting any cash back, the loan is restricted to the Texas Home Equity Section 50(a)(6).

These loan programs are eligible for Texas Section 50(a)(6) Equity Cash-out:

  • Fannie Mae Fixed Rate
  • Fannie Mae LIBOR ARMs
  • Fannie Mae Manufactured Home Fixed Rate
  • Freddie Mac Conforming Fixed and ARMs
  • Freddie Mac Super Conforming
  • iQM Agency Plus
  • iQM Alternative Documentation

Note:  The iQM Investor is an investment/business property program.  Texas Section 50(a)(6) does not apply to investment properties.

Texas Cash-Out Highlights:

  • Eligible if owner-occupied
  • Once a Texas Section 50(a)(6), always a Texas Section 50(a)(6)
  • $150,000 maximum cash-out overlay has been removed
  • All Texas Cash-Out Rules are applicable
  • Not a Texas Section 50(a)(6) initially, second lien considered a rate and term refinance

Contact us or call an account executive at 877-310-0970

Copyright © 2019 Impac Mortgage Corp. All rights reserved. NMLS #128231. Rates, fees and programs are subject to change without notice. Other restrictions may apply. Information is intended solely for mortgage bankers, mortgage brokers, financial institutions and correspondent lenders. Not intended for distribution to consumers, as defined by Section 1026.2 of Regulation Z, which implements the Truth-In-Lending Act. Licensed by the Department of Business Oversight, under the California Residential Mortgage Lending Act (License #4131083). Impac Mortgage Corp. dba Excel Mortgage.