Is it a good idea to borrow money for home improvements so that I can refinance my mortgage?

I only have one credit card but it is almost maxed out.

Asked by Barbara

1 Answer

Log in or sign up with email
By submitting you agree to our Terms of Service
D
Answered by Dennis.Hearing
You can also refinance AND get the money to do the repairs and upgrades all in one loan. It is called a refi-reno. There is an FHA version and a conventional version. The appraised value of your home is based on the "after-improved" value. You must have a bid to complete the work by a licensed contractor. If you are dealing with renovations that encompass multiple trades you will need a General Contractor. | 11.02.16 @ 11:30
Comment
Log in or sign up with email
By submitting you agree to our Terms of Service
$commenter.renderDisplayableName() — {comment} | 12.04.16 @ 12:41
Log in or sign up with email
By submitting you agree to our Terms of Service
Free MoneyTips Membership!

Get FREE, full access to MoneyTips.com

Answered by

D
Dennis.Hearing

Related Questions

Q&A
Asked by rexcloward
Q&A
Asked by c_horton1007