Personal Finance
Home Equity and Refinancing
Money Management

What is the impact of using an equity loan to increase the size of a home on refinancing both the equity loan and first mortgage?

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Wiki User
December 11, 2005 3:58AM

You can get a subject to appraisal which I get for rehab loans in my area. This kind of appraisal will tell you the future value of your property after the work is done. This tells you if it is a good idea or not. If the value is going to increase a lot then it will be easy to refi your home or you can go with the above rehab loan and it is a construction [ rehab ] permanent loan. It becomes a permenent loan upon completion. see my bio if you have any questions.