Has anyone refinanced or taken out a HELOC for renovations?
PaddysGirl15
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Has anyone refinanced or taken out a HELOC for renovations?
We are looking to build up and on to our ranch. We are in a fortunate position that we have NO mortgage. We are probably looking to borrow 150-200 K to do what we want.
You think I would know all this bc I worked in the mortgage biz for 2 years.
What do you think is better, refi or heloc?
Also, any recommendations for architects/contractors?
Colette
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Re: Has anyone refinanced or taken out a HELOC for renovations?
OK Callan between the SHOES yesterday and now this, you have officially pushed me over the edge...
TOOOOOOOOTALLY j/k and I have nothing to offer advice-wise; the best I can bring is a little levity...
HamptonsBride
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Re: Has anyone refinanced or taken out a HELOC for renovations?
where are you located? My bro just did renovations on his house in Huntington...he was very happy with who he used.
PaddysGirl15
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Re: Has anyone refinanced or taken out a HELOC for renovations?
Posted by Colette
OK Callan between the SHOES yesterday and now this, you have officially pushed me over the edge...
TOOOOOOOOTALLY j/k and I have nothing to offer advice-wise; the best I can bring is a little levity...
I know but I really am SERIOUS (honest) My dad passed away and signed the house over to me. I am tenants in common with my mom (who lives in Long Beach) so it is just DH and me in the house.
acsm
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Re: Has anyone refinanced or taken out a HELOC for renovations?
do you have a mortgage elsewhere?? maybe i'm not familiar with this but if you have no current mortgage what would you refinance??
i refinanced last year to get a better rate on my mortgage which led to paying closing costs again but i locked into a fixed rate.. maybe try calling a few banks to see what they offer.. i wouldnt go for anything that is not fixed with this market and you never know which way the rates are going to go.. try calling the bank you use now and see if they offer special deals for current customers - if not i've heard good things about hsbc, wamu and wells fargo... its a pain to call all and ask but at least it will give you some color of the going rates and have them give you quotes for both options (when you do call - dont have them run credit checks let them know you want to just get an idea)
hth!
PaddysGirl15
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Re: Has anyone refinanced or taken out a HELOC for renovations?
good point! I assumed it would be a cash out refi but I suppose you are right we would probably just do a HELOC (i think the rates are better for this anway)
PaddysGirl15
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Re: Has anyone refinanced or taken out a HELOC for renovations?
Posted by HamptonsBride
where are you located? My bro just did renovations on his house in Huntington...he was very happy with who he used.
Really? We are in Oceanside. Would you mind Fm'ing his info?
TIA!
HamptonsBride
Posted:
Member since
Re: Has anyone refinanced or taken out a HELOC for renovations?
Posted by PaddysGirl15
Posted by HamptonsBride
where are you located? My bro just did renovations on his house in Huntington...he was very happy with who he used.
Really? We are in Oceanside. Would you mind Fm'ing his info?
TIA!
I will FM it to you when i get it...may take a day or two!
PaddysGirl15
Posted:
Member since
Re: Has anyone refinanced or taken out a HELOC for renovations?
Posted by HamptonsBride
Posted by PaddysGirl15
Posted by HamptonsBride
where are you located? My bro just did renovations on his house in Huntington...he was very happy with who he used.
Really? We are in Oceanside. Would you mind Fm'ing his info?
TIA!
I will FM it to you when i get it...may take a day or two!
