Pull Cash Out With A Home Equity Loan
Do you need to consolidate high interest debt, payoff a car, payoff student loans? Would you like to have cash for investing, down payment for a new home, money for a wedding or just cash for savings? Consider a cash-out loan on your home. There are no limitations on what the money can be used for and there are no penalties for paying off the loan early.
Texas law limits the amount of equity you can cash-out up to 80% on a primary residence as well as impose other factors so make sure to discuss the possibilities with your HomeStart loan officer.
For example, the max cash-out for a $100k in home equity would be $80k dollars. Cash-out limits on non-primary residences are higher.