AuntieKJ asked:
We are in need of a mojor bathroom remodel very soon or we risk not having a functioning shower soon. We currently have over 3x our loan due amount in equity, but our credit rating is not the best.
We are in need of a mojor bathroom remodel very soon or we risk not having a functioning shower soon. We currently have over 3x our loan due amount in equity, but our credit rating is not the best.
What I would like to do is take out the loan for the remodel (including materials for other areas of the home we can do ourselves) for a fixed 15-30 year repayment so our curretn payments will be low enough to not hurt us until we sell in 5 years when we will have paid the 1st mortgage in full and we will repay the 2nd loan in full from the sale profits.
Which would be the best way to go for our needs, timeline, and credit rating to make the most of it and get the best rates possible? Thank you
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