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Loan for Renovations, Not HELOC
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bella321
Blessed!
Member since 3/09 1952 total posts
Name:
Kristy
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Loan for Renovations, Not HELOC
Has anyone taken out a loan for renovations that was not a HELOC? What was the process to get the loan?
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Posted 9/6/17 1:55 PM  |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Loan for Renovations, Not HELOC
We did a loan through our contractor. It was a 0% loan and we had to pay him the interest up front. It was for about $30,000 only though, so not enough to do a dormer or anything like that. More like a kitchen renovation. I'm not sure if some firms do a larger amount or if you'd have to refinance and do a 403b loan (I think?) with a bank approved contractor.
We did our dormer with savings, the above mentioned loan and a couple of CC's. We paid off the CC's with a new HELOC we took out after construction was complete.
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| Posted 9/7/17 12:52 PM |
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