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Putting on an extension questions
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Putting on an extension questions
I'm hoping someone can lead me in the right direction of where to begin.
We would like to put a 2nd floor extension on our home, but I don't have the cash outright to do it otherwise I wouldn't be posting. We just refinanced our house a couple of months ago, so I don't 'think' we'll have equity in the house-but maybe I'm not thinking it through correctly.
Do we apply for a loan? What kind? How long do we have to pay it back?
I'm at a loss of where to begin. Help please?
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Posted 1/7/13 2:10 PM  |
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Prudential Douglas Elliman Real Estate
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blustar214
So in love with my little girl
Member since 1/10 2471 total posts
Name:
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Re: Putting on an extension questions
One option is a 203k loan, but I think it requires refinancing so that probably wouldn't work for you right now.
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| Posted 1/7/13 3:51 PM |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: Putting on an extension questions
BOA has a construction loan that converts to a regular mortgage at the end of the construction. Not sure about other banks- check with the bank that has your mortgage
I was looking at FHA loans today and I think they might also cover construction and then convert to a mortgage
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| Posted 1/7/13 4:25 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: Putting on an extension questions
ty!
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| Posted 1/7/13 7:33 PM |
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