Post # 1
Darling Husband and I are learning about home renovation loans and I”d love to know more about them! Do they normally cover residing a house, fixing windowsills with wood rot, and carpet? Is the intrest rate higher? What has been your experience with them?
Post # 3
Sorry I don’t have any experience with these. We got a higher-interest rate loan (bad idea). Then when the renos were done we had our house re-appraised and because the things we did really raised the value of our house a lot, we then re-negotiated our mortgage for a larger amount, and paid off the high-interest loans. So that’s how we did it, but it is not the smartest way. We just got lucky and it all worked out and all happened within about 6 months, so we didn’t take a major hit on the interest.