Question by Hokie: In Texas, can you refinance a mortgage if changing from a primary residence to a rental property?
***More specifically, can you refinance even if you have little or no equity in the home?***
We currently live in the house, but are moving out of town next month, but are trying to sell/rent the house. So my question is specifically about rental property, and if this refinance is allowed in the State of Texas. Thanks for your help!
Answer by Synique
It really depends on the lender.
And yes, you can refi if you have little equity in the home – again, the policies will vary from lender to lender.
Know better? Leave your own answer in the comments!