Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Own SFH in Sterling, VA, assessed by County at $417K. Current 30 year-fixed mortgage has remaining balance of $262K. We would like to refi our current 30-year mortgage and add in the cost of a major renovation to our home's addition (which we estimate at costing between $50-60K). This would make the new mortage roughly $320K.
Is this possible? Is this the best way to finance this renovation? Are there better ways of accomplishing this from a financial standpoint? Thanks for all of your suggestions.