Question by bizcax: Can you take out a home improvement loan and add it to your mortgage?
Best answer:
Answer by Cynthia M
you can its just a refinance on the potential value of your home BUT good luck finding a lender who will do it considering the credit crunch
What do you think? Answer below!
Isn't the current state of affairs in California's economy PROOF POSITIVE that socialism just does NOT work? 21 comment(s) Have you ever licked a frozen pole? 43 comment(s) Trick or Treatment: The Undeniable Facts about Alternative Medicine Edzard Ernst and Simon Singh 0 comment(s) Q&A: How do you get rid of redness and swelling in acne quickly using home remedies? 13 comment(s) Cute quotes to maintain you friendship 0 comment(s) What accounts for the extreme difference of climate between southern Europe and north Africa? 2 comment(s) A Review of the Marketleap Free Link Popularity Checker 24 comment(s) Do you know WHY you are voting for your candidate? ? 35 comment(s) Look at nearly 51 merchants are busy lighting what - lighting, lamps, lighting - Lighting Industry 24 comment(s) Cute quotes to maintain you friendship 1137 view(s) Funny birthday quotes and cute wishes 923 view(s) What are some really good, cute sayings or quotes about love? 700 view(s) Q&A: Why is it important to continuously update the implementation and communication of a strategic plan? 668 view(s) Sad love quotes for people with heartbreak 515 view(s) Directory Links 495 view(s) Does anyone know some motivational quotes to help a friend through a hard time? 470 view(s) Easy Back to School Art and Craft Ideas for Kids 416 view(s) Friendship quotes for your sad love 337 view(s) What major football college has the best academics? 50 comment(s) How does one go about picking a type of yoga and getting started? 49 comment(s) Does the bible allow us to have pets or care and love animals? 49 comment(s) Do you think that Palin is ready to handle World Affairs? 49 comment(s) What I wanna know is; Whats the difference between people hunting deer out there and Michael Vick's dog fights 49 comment(s) What attracts you to social networking sites and what features are still missing? 49 comment(s) How can i decorate a small kids room without buying anything? 49 comment(s) Q&A: Your children are abducted and buried alive by extremest would you torture the extremest to save your children? 49 comment(s) 
Yes, you can…I’ve thought about it off & on, as well. – But, we just bought our home 3 yrs. ago (27 to go till pay-off), and adding more $ to the “total”, especially considering the amount of interest we’d be paying on the improvement/s) over that time, doesn’t seem justified…And, can you afford the increase of your monthly mortgage?
You might consider a 2nd mortgage for the home imp., and be able to pay that seperately (in shorter amount of time)…Of course, it all depends on your personal circumstances, so why not call your mortg. lender and see what your options are?
Happy remodeling, to you!
Yes, its a refinance. The basic gist is they will use the value of the home after the improvements and base the loan on that.
For example lets say your house appraises for 200K right now and after the improvements it appraises for 250K.
You would get about 95% or so of the 250K to do the improvements.
Let me know if you need more info.