Home Improvement Financing


How does home improvement financing work if I want to add say workshop or swimming pool construction onto my current mortgage?

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Nancy 2 months 1 Answer 19 views 0

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  1. You have options – depending on how much you need to borrow for the home improvement. Go directly to a bank to finance a home improvement project on a short term note. There may or may not be closing costs – either of which could affect the rate. If your current mortgage rate is on the high side, then you may want to consider refinancing your current mortgage and your home improvement loan all together. If you have enough equity in your current property, you may want to consider a home equity loan. Depending on circumstances, you might consider borrowing up to 75% of your appraised value, minus your current mortgage.

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