If I'm approved for a $300,000 mortgage, but end up buying a home for $100,000 can I use the remainder of that pre-approved balance to do home renovations?
Would I need a second loan for the renovation budget, or would I have to pay out of pocket for those expenses?
Answers | 1
Mortgage Professional in Moreno Valley, CA
January 27, 2016
Asked by Brady
Answered by Brian Howell
Mortgage Professional in Castle Rock, CO
No Brady it usually isn't. I would recommend sending two separate checks for $100...
Asked by Ricky
Asked by MORE DIOP