+500 FICO-Texas BAD CREDIT CASH-OUT / PURCHASE MORTGAGE LENDERS

bad credit Texas mortgage lenders
Texas Bad Credit Cash OUT Refinance UP To $500K In Hand!


  • Min Fico 500+ (including jumbo)
  • Up to 85% LTV (purchase & R/T) w/ no MI
  • 1 day out of Foreclosure, Short Sale, Bankruptcy, SS, BK, or Deed in Lue
  • Up to 80% of your home value (cash-out)
  • Maximum cash-out to $500,000
  • Loans up to $1 million (minimum loan $100,000)
  • Cash out for reserves OK
  • Mortgage Late Payments OK
  • DTI up to 55% considered
  • Limited or no tradelines OK to max 75% LTV

Texas Bad Credit Cash-out Refinance Fico And Loan To Value

  • 500+ Fico Rate and term Bad Credit Cashout down to 65% of Appraisal
  • 540+ Fico Rate and term Bad Credit Cashout down to 70% of Appraisal
  • 600+ Fico Rate and term Bad Credit Cashout down to 75% of Appraisal
  • 640+ Fico Rate and term Bad Credit Cashout down to 80% of Appraisal
  • 680+ Fico Rate and term Bad Credit Cashout down to 80% of Appraisal
  • $1,500,000 = Bad Credit Cashout = Max Loan Amount   

Texas Bad Credit Cash-out Refinance General Information
Loan Terms: ● 5 year ARM, 7 year ARM or 30 Year Fixed Options
● No Prepayment penalty ● Floor = Start rate
● Caps are 2/2/5 (2% initial change cap/ 2% annual cap/ 5% lifetime cap)
● All bad credit loans require to impound for tax and insurance Texas home Types:
● SFRs, condos, townhouses, 2-4 units (no rural properties < $200,000)
● The Texas home must be clean and in better than average cond
● The Texas home must show “pride of ownership” Debt to Income Ratio:
● 55% Max back end ratio 
Texas Bad Credit Cash-out Refinance Income Documentation

● Alt Doc Options- 24 months business bank statements or 24 or 12 months personal bank statements(self-employed only), rental income qualified by lease agreements.
● Full Doc – W-2 & paystubs, 1040s ● Full Doc – 1 year (W-2 and Current YTD Paystub)
● Full Doc – 1 year (One-year Tax Return, Self Employed)
● Alt Doc – 24 months business bank statements or 24 or 12 months personal bank statements(self-employed only), rental income qualified by lease agreements.
● Asset Only Options- 100% of amount needed to amortize loan plus monthly debts for 60 months, max 80% LTV to 1.0M; Max 75% LTV to $1.5M
● Asset Assist- Assets divided by 120 is added to income. $1.5M max loan amount to 75% LTV, Max 80% LTV to $1M. Down Payments:
● All down payment funds must be verified prior to drawing loan documents
● Secondary Financing 80% Max LTV/90% Max CLTV Tax Liens, Judgments:
● All tax liens and judgments must be paid at closing. Collection Accounts:
● Collections and charge off the need to be paid off except – Medical Collections – Collection accounts older 
then 2 years First time home buyer:

Texas Bad Credit Cash Out Texas Mortgage Refinance Programs 

bad credit Texas cashout mortgage lenders

Credit Score  Use middle FICO score of the primary wage earner
Housing History  30’s and 1 x 60 in the past 12 months allowed (No add‐on to rate)  1 or more 90 day late in the past 12 months allowed
Min Credit Score  Owner Occupied: 500  Non‐Owner Occupied: 580  Non‐Perm Resident Aliens: 580 Second Home: 580  First Time Homebuyer: 540

Bad Credit Mortgage Lenders Tradeline Requirements  Standard: 3 trade lines reporting for ≥ 12 month; or 2 trade lines reporting for ≥ 24 months with activity in the past 12 months 12 to 24 months canceled rent checks can be used as a trade lineLimited Trade lines  Max LTV 75%  No minimum trade line requirements  Not allowed on Investment properties
DTI Requirements  Max 40/50%  Investment properties max 50%
Seasoning Requirements  Foreclosure, Deed‐In‐Lieu & Short Sale – None
 Bankruptcy 7 ‐ 12 months
from discharge date  Bankruptcy 7: None when property excluded from
BK and a 0 x 30 x 12 residential pay history  Bankruptcy 13: None if filed >24
months ago and paid as agreed  All BK’s must be discharged (case by case exceptions) Reserves  3 months minimum  Investment properties – 6 months
 Loan amounts ≥ $453,100 ‐ 6 months  Loans ≥ $750,000 ‐ 9 months
 Second Home – 6 months  First Time Homebuyer – 6 months
 Limited trade lines – 6 months  Non‐Perm Resident Aliens – 6 months
 Non‐Perm Resident Alien with non‐US credit – 12 months Residual Income  Primary Residence $1,500
First‐Time Homebuyer  Residential pay history 0x30

Texas bad Texas bad credit Cashout Refinance – • For Texas homes owned 12-months or longer, the LTV/CLV is based upon the appraised value. • If Cash-Out Seasoning is 7-11 months, the transaction property value is limited to the lower of the current appraised value or the property’s purchase price + documented improvements• If Cash-Out Seasoning is 6 months or less, the transaction property value is limited to delayed financing or inherited Texas homes. 

Texas Home and Property Types
-Eligible: Single Family Residences1-4 Units, PUDs, Townhouses, Condominiums (Warrantable & Non-Warrantable condos approved case by case: 

Ineligible Texas Texas homes include: • Acreage greater than 10 acres (appraisal must include total acreage) • Agricultural zoned property • Condo hotel • Co-ops • Hobby Farms •Income producing Texas homes with acreage • Leaseholds • Log Homes • Manufactured housing • Mixed-use Texas homes • Modular homes • Texas homes subject to oil and/or gas leases •Unique Texas homes • Working farms, ranches or orchards. 

Texas Approved Condos  Property Types –Fannie Mae eligible projects and Non-Warrantable projects allowed • GreenBox Loans, Inc. project exposure maximum shall be $3,000,000 or 15% of the project whichever is lower • Borrower project/Unit concentration limit: two (2) units • Project meets all FNMA Insurance requirements for property, liability and fidelity coverage • Borrower must carry H06 coverage for replacement of such items as flooring, wall covering, cabinets, fixtures, built-ins and any improvements made to the unit • The Condo Project Questionnaire must be completed, including all the required documentation from the questionnaire including: CCR, Articles of Incorporation, By-Laws, Master Insurance Policy, Budget / Balance Sheet & HOA questionnaire .• All projects are subject to full review and approval. 
Texas Tax Liens – All Texas income tax liens (federal, state, local) must be paid off prior to or at loan closing. Tax liens that do not impact title may remain open provided the
following are meet;

• The file must contain a copy of the repayment agreement
• A minimum of 6-payments has been made under the plan with all payments made on time
• The balance of the lien must be included when determining the maximum CLTV for the program
• Refinance transactions require a subordination agreement from the taxing authority

bad Texas bad credit bad Texas bad credit Downpayment requirements- Down payment funds should be documented for 60 days per the Fannie Mae Verification of Deposits and Assets guidelines with the documentation
included in the loan file.In addition to documenting the down payment, closing costs, and minimum PITIA reserve requirements, all borrowers must disclose and verify all other
liquid assets.• Business funds may be used for down payment, closing costs and for the purposes of calculating reserves. GreenBox will perform a business cash flow analysis to confirm that the withdrawal of funds for this transaction will not have a negative impact on the business. GreenBox will utilize FNMA Form
1084 or a similar cash flow analysis form to show the business can support the withdrawal of the funds.
• Account Statements should cover most recent 60-day period
• Stocks/Bond/Mutual Funds -100% of stock accounts can be considered in the calculation of assets for closing and reserves;
• Vested Retirement Account funds –60% may be considered for closing and/or reserves;
• Non-vested or restricted stock accounts are not eligible for use as down payment or reserves.
• Any assets which produce income or are used as income already included in the income calculation are not eligible for use as down payment or reserves.

Texas Mortgage After Texas mortgage after bankruptcy / bad Texas bad credit Housing Event-  Chapter 7 and Chapter 11 bankruptcies must be discharged for a minimum of 12 months from closing date. Seasoning is measured from the month and
year of discharge. There is no seasoning requirement for Chapter 13 bankruptcies when the Texas mortgage after bankruptcy is discharged prior to closing. If the Chapter 13 Texas mortgage after bankruptcy was dismissed
, 12-months’ seasoning is required from the date of the dismissal.
A Chapter 13 Texas mortgage after bankruptcy may remain open after loan closing when all of the following requirements are met:
• A minimum 12-month repayment period in the Texas mortgage after bankruptcy has elapsed.
• All required Texas mortgage after bankruptcy plan payments have been made on time.
• The borrower has received written permission from the Texas mortgage after bankruptcy court to enter into the mortgage transaction.
• Full Texas mortgage after bankruptcy papers may be required. For a 120-day mortgage late, seasoning is from the date the mortgage was brought current. Seasoning for a modification is from the date the modification
was executed. A cash-out refinance to pay off the remaining balance of a Chapter 13 Texas mortgage after bankruptcy is allowed. In addition to meeting the requirements listed above, the
transaction must provide an overall reduction in monthly obligations for the borrower.

Texas Mortgage with  Texas collections And Charge-Offs  Individual collection and non-mortgage charge-off accounts equal to or greater than $250 and accounts that total more than $2,000 must be paid in
full prior to or at closing.
 Medical Texas collections may remain open with a max cumulative balance of $10,000
 Texas collections and charge-offs that have expired under the state statute of limitations on debts may be excluded. Evidence of expiration must be documented
.
 All open Texas judgments, garnishments, and all outstanding liens must be paid off prior to or at loan closing. Charge-offs and Texas collections not excluded by the above bullet points must be paid or may stay open if using one or a combination of both of the following:
o Payments for open charge-offs or Texas collections are included in the DTI (Subject to program DTI restrictions)
o Reserves are sufficient to cover the balance of the charge-offs or Texas collections and meet reserve requirements.

Texas bad Texas bad credit Mortgage bad Texas bad credit Standards 

Clean housing history since housing event • Any non-mortgage account can be no more than 30-days delinquent at time of application. Any delinquent
account must either be brought current or paid off at closing.
Standard: 3 tradelines reporting for 12+ mo’s or 2 tradelines reporting for 24+ mo’s with activity in the last 12 mo’s Limited: No minimum tradeline
requirements.

Only the primary bad credit Texas wage-earner must meet the minimum tradeline requirements listed above. To qualify as an acceptable tradeline, the bad Texas bad credit line must be reflected on the borrower’s bad Texas bad credit report. The bad credit Texas account must have activity in the past 12 months and may be open or closed. bad credit Texas Accounts with delinquencies are allowed when the account is no more than 30-days past due at time of application. An acceptable 12- or 24-month housing history not reporting on bad Texas bad credit may also be used as a tradeline. bad Texas bad credit lines on which the bad credit Texas mortgage applicants are not obligated to make payments are not acceptable for establishing a minimum history. Examples of unacceptable tradelines include loans in a deferment period, collection or charged-off accounts accounts discharged through bankruptcy, and authorized user accounts. Student loans can be counted as tradelines as long as they are in repayment and are not deferred. Standard Tradelines: Texas mortgage applicants qualifying with Standard Tradelines are eligible for all occupancy types and programs. Limited Tradelines: The following requirements apply when qualifying with Limited Tradelines: 10% minimum Texas mortgage applicants contribution • Minimum 6 months reserves after closing • Full documentation of income. When qualifying with Limited Tradelines, the lower of either the Representative Loan Score or a 580 score is used to qualify the borrower on the Non-Prime Matrix and Recent Housing Event Matrix. The loan may be priced, however, using the actual Representative Loan Score • Primary residence only

Texas mortgage applicants Housing late payments exceeding 1x60x24 require a letter of explanation from the Texas mortgage applicants. The situation causing the delinquency must be adequately
documented as resolved. The new housing payment must be considered when determining if the situation is adequately resolved.

Texas bad Texas bad credit Mortgage Lenders Requirments

Texas bad Texas bad credit Mortgage  Texas bad Texas bad credit Mortgage  Min Fico
Min Fico  500
Housing  1 x 120 0 x 30 since housing event 
Chapter 13 or Chapter 7 bankruptcy 12 months payment or settled 
Foreclosure  Settled
short sale settled
BAD CREDIT CASH OUT MORTGAGE LENDERS IN EVERY CITY IN TEXAS
Houston Texas BAD CREDIT CASH OUT Mortgage Refinance 2,099,451
San Antonio Texas BAD CREDIT CASH OUT Mortgage Refinance 1,327,407
Dallas Texas BAD CREDIT CASH OUT Mortgage Refinance  Texas 1,197,816
Austin Texas BAD CREDIT CASH OUT Mortgage Refinance  Texas 790,390
Fort Worth Texas BAD CREDIT CASH OUT Mortgage Refinance 741,206
El Paso Texas BAD CREDIT CASH OUT Mortgage Refinance 649,121
Arlington Texas BAD CREDIT CASH OUT Mortgage Refinance 365,438
Corpus Christi Texas BAD CREDIT CASH OUT Mortgage Refinance 305,215
Plano Texas BAD CREDIT CASH OUT Mortgage Refinance 259,841
Laredo Texas BAD CREDIT CASH OUT Mortgage Refinance 236,091
Lubbock Texas BAD CREDIT CASH OUT Mortgage Refinance 229,573
Garland Texas BAD CREDIT CASH OUT Mortgage Refinance 226,876
Irving Texas BAD CREDIT CASH OUT Mortgage Refinance 216,290
Amarillo Texas BAD CREDIT CASH OUT Mortgage Refinance 190,695
Grand Prairie Texas BAD CREDIT CASH OUT Mortgage Refinance 175,396
Brownsville Texas BAD CREDIT CASH OUT Mortgage Refinance 175,023
Pasadena Texas BAD CREDIT CASH OUT Mortgage Refinance 149,043
Mesquite Texas BAD CREDIT CASH OUT Mortgage Refinance 139,824
McKinney Texas BAD CREDIT CASH OUT Mortgage Refinance 131,117
McAllen Texas BAD CREDIT CASH OUT Mortgage Refinance 129,877
Killeen Texas BAD CREDIT CASH OUT Mortgage Refinance 127,921
Waco Texas BAD CREDIT CASH OUT Mortgage Refinance 124,805
Carrollton Texas BAD CREDIT CASH OUT Mortgage Refinance 119,097
Beaumont Texas BAD CREDIT CASH OUT Mortgage Refinance 118,296
Abilene Texas BAD CREDIT CASH OUT Mortgage Refinance 117,063
Frisco Texas BAD CREDIT CASH OUT Mortgage Refinance 116,989
Denton Texas BAD CREDIT CASH OUT Mortgage Refinance 113,383
Midland Texas BAD CREDIT CASH OUT Mortgage Refinance 111,147
Wichita Falls Texas BAD CREDIT CASH OUT Mortgage Refinance 104,553
Odessa Texas BAD CREDIT CASH OUT Mortgage Refinance 99,940
Round Rock Texas BAD CREDIT CASH OUT Mortgage Refinance 99,887
Richardson Texas BAD CREDIT CASH OUT Mortgage Refinance 99,223
Tyler Texas BAD CREDIT CASH OUT Mortgage Refinance 96,900
Lewisville Texas BAD CREDIT CASH OUT Mortgage Refinance 95,290
College Station Texas BAD CREDIT CASH OUT Mortgage Refinance 93,857
San Angelo Texas BAD CREDIT CASH OUT Mortgage Refinance 93,200
Pearland Texas BAD CREDIT CASH OUT Mortgage Refinance 91,252
Allen Texas BAD CREDIT CASH OUT Mortgage Refinance 84,246
League Texas BAD CREDIT CASH OUT Mortgage Refinance  Texas BAD CREDIT CASH OUT Mortgage Refinance 83,560
Longview Texas BAD CREDIT CASH OUT Mortgage Refinance 80,455
Sugar Land Texas BAD CREDIT CASH OUT Mortgage Refinance 78,817
Edinburg Texas BAD CREDIT CASH OUT Mortgage Refinance 77,100
Mission Texas BAD CREDIT CASH OUT Mortgage Refinance 77,058
Bryan Texas BAD CREDIT CASH OUT Mortgage Refinance 76,201
Baytown Texas BAD CREDIT CASH OUT Mortgage Refinance 71,802
Pharr Texas BAD CREDIT CASH OUT Mortgage Refinance 70,400
Missouri Texas BAD CREDIT CASH OUT Mortgage Refinance  Texas BAD CREDIT CASH OUT Mortgage Refinance 67,358
Temple Texas BAD CREDIT CASH OUT Mortgage Refinance 66,102
Harlingen Texas BAD CREDIT CASH OUT Mortgage Refinance 64,849
Flower Mound town 64,669
North Richland Hills Texas BAD CREDIT CASH OUT Mortgage Refinance 63,343
Victoria Texas BAD CREDIT CASH OUT Mortgage Refinance 62,592
New Braunfels Texas BAD CREDIT CASH OUT Mortgage Refinance 57,740
Mansfield Texas BAD CREDIT CASH OUT Mortgage Refinance 56,368
Conroe Texas BAD CREDIT CASH OUT Mortgage Refinance 56,207
Rowlett Texas BAD CREDIT CASH OUT Mortgage Refinance 56,199
Port Arthur Texas BAD CREDIT CASH OUT Mortgage Refinance 53,818
Euless Texas BAD CREDIT CASH OUT Mortgage Refinance 51,277
DeSoto Texas BAD CREDIT CASH OUT Mortgage Refinance 49,047
Cedar Park Texas BAD CREDIT CASH OUT Mortgage Refinance 48,937
Galveston Texas BAD CREDIT CASH OUT Mortgage Refinance 47,743
Georgetown Texas BAD CREDIT CASH OUT Mortgage Refinance 47,400
Bedford Texas BAD CREDIT CASH OUT Mortgage Refinance 46,979
Pflugerville Texas BAD CREDIT CASH OUT Mortgage Refinance 46,936
Grapevine Texas BAD CREDIT CASH OUT Mortgage Refinance 46,334
Texas Texas BAD CREDIT CASH OUT Mortgage Refinance Texas BAD CREDIT CASH OUT Mortgage Refinance 45,099
Cedar Hill Texas BAD CREDIT CASH OUT Mortgage Refinance 45,028
San Marcos Texas BAD CREDIT CASH OUT Mortgage Refinance 44,894
Haltom Texas BAD CREDIT CASH OUT Mortgage Refinance Texas BAD CREDIT CASH OUT Mortgage Refinance 42,409
Wylie Texas BAD CREDIT CASH OUT Mortgage Refinance 41,427
Keller Texas BAD CREDIT CASH OUT Mortgage Refinance 39,627
Coppell Texas BAD CREDIT CASH OUT Mortgage Refinance 38,659
Huntsville Texas BAD CREDIT CASH OUT Mortgage Refinance 38,548
Duncanville Texas BAD CREDIT CASH OUT Mortgage Refinance 38,524
Sherman Texas BAD CREDIT CASH OUT Mortgage Refinance 38,521
Rockwall Texas BAD CREDIT CASH OUT Mortgage Refinance 37,490
Hurst Texas BAD CREDIT CASH OUT Mortgage Refinance 37,337
Burleson Texas BAD CREDIT CASH OUT Mortgage Refinance 36,690
Texarkana Texas BAD CREDIT CASH OUT Mortgage Refinance 36,411
Lancaster Texas BAD CREDIT CASH OUT Mortgage Refinance 36,361
The Colony Texas BAD CREDIT CASH OUT Mortgage Refinance 36,328
Friendswood Texas BAD CREDIT CASH OUT Mortgage Refinance 35,805
Weslaco Texas BAD CREDIT CASH OUT Mortgage Refinance 35,670
Del Rio Texas BAD CREDIT CASH OUT Mortgage Refinance 35,591
Lufkin Texas BAD CREDIT CASH OUT Mortgage Refinance 35,067
San Juan Texas BAD CREDIT CASH OUT Mortgage Refinance 33,856
La Porte Texas BAD CREDIT CASH OUT Mortgage Refinance 33,800
Nacogdoches Texas BAD CREDIT CASH OUT Mortgage Refinance 32,996
Copperas Cove Texas BAD CREDIT CASH OUT Mortgage Refinance 32,032
Socorro Texas BAD CREDIT CASH OUT Mortgage Refinance 32,013
Deer Park Texas BAD CREDIT CASH OUT Mortgage Refinance 32,010
Schertz Texas BAD CREDIT CASH OUT Mortgage Refinance 31,465
Rosenberg Texas BAD CREDIT CASH OUT Mortgage Refinance 30,618
Waxahachie Texas BAD CREDIT CASH OUT Mortgage Refinance 29,621
Cleburne Texas BAD CREDIT CASH OUT Mortgage Refinance 29,337
Farmers Branch Texas BAD CREDIT CASH OUT Mortgage Refinance 28,616
Kyle Texas BAD CREDIT CASH OUT Mortgage Refinance 28,016
Big Spring Texas BAD CREDIT CASH OUT Mortgage Refinance 27,282
Lake Jackson Texas BAD CREDIT CASH OUT Mortgage Refinance 26,849
Harker Heights Texas BAD CREDIT CASH OUT Mortgage Refinance 26,700
Southlake Texas BAD CREDIT CASH OUT Mortgage Refinance 26,575
Leander Texas BAD CREDIT CASH OUT Mortgage Refinance 26,521
Eagle Pass Texas BAD CREDIT CASH OUT Mortgage Refinance 26,248
Kingsville Texas BAD CREDIT CASH OUT Mortgage Refinance 26,213
Little Elm Texas BAD CREDIT CASH OUT Mortgage Refinance 25,898
Greenville Texas BAD CREDIT CASH OUT Mortgage Refinance 25,557
Weatherford Texas BAD CREDIT CASH OUT Mortgage Refinance 25,250
Seguin Texas BAD CREDIT CASH OUT Mortgage Refinance 25,175
Paris Texas BAD CREDIT CASH OUT Mortgage Refinance 25,171
San Benito Texas BAD CREDIT CASH OUT Mortgage Refinance 24,250
Alvin Texas BAD CREDIT CASH OUT Mortgage Refinance 24,236
Corsicana Texas BAD CREDIT CASH OUT Mortgage Refinance 23,770
Balch Springs Texas BAD CREDIT CASH OUT Mortgage Refinance 23,728
Marshall Texas BAD CREDIT CASH OUT Mortgage Refinance 23,523
Watauga Texas BAD CREDIT CASH OUT Mortgage Refinance 23,497
University Park Texas BAD CREDIT CASH OUT Mortgage Refinance 23,068
Colleyville Texas BAD CREDIT CASH OUT Mortgage Refinance 22,807
Denison Texas BAD CREDIT CASH OUT Mortgage Refinance 22,682
Kerrville Texas BAD CREDIT CASH OUT Mortgage Refinance 22,347
Plainview Texas BAD CREDIT CASH OUT Mortgage Refinance 22,194
Benbrook Texas BAD CREDIT CASH OUT Mortgage Refinance 21,234
Sachse Texas BAD CREDIT CASH OUT Cash Out Mortgage Refinance 20,329

Dealing with Texas Debt Consolidation- USA.gov

Texas Debt Consolidation Refinance . Consolidation means that your various debts, such as credit card bills or loan payments, are rolled into one monthly payment. If you have multiple credit card accounts or loans,  Texas debt consolidation Refinance through a mortgage refinance can help simplify or lower your payments.

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