I would like to do some work in my home and would like to get a second mortgage or refinance my loan

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Answered by Paul Carag, Financial Adviser in Renton, WA
That's great! What is your question about this topic? Just to give you some general information, you should go to a mortgage broker to figure out which option (total cash-out refinance of current mortgage or a 2nd mortgage) would cost less in monthly payment as well as charges. You can generally get up to 80% of your home's value in total loans so if you're currently below that amount (example: If you're home is worth $100,000 and your current loan is at $60,000, you should be able to get $20,000 in cash out not counting any fees or costs), then you should be able to get the remainder of value up to 80% in cash out. That's also dependent upon your employment status (or fixed income if you're retired) as well as your credit status. Let me know if you have a more detailed question and I'll be happy to help. | 07.08.15 @ 18:18
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 12:32
Answered by Christopher Tanael, Wholesale Rep in San Marcos, CA
I can help you | 05.24.16 @ 15:33
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$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 12:32
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