Doogie asked:
Here’s the info. We want to put an addition onto our home. We purchased it new in 2002 for $119,000 and we borrowed $26,000 on our original loan which is a 5/1 ARM. In our current market area, our home would sell for between $150K and $160K. We will need $50K to do the addition. Which is the best route for us: to refinance and get the $50K or get a home equity loan or home equity Line-of-Credit? It’s all confusing and I know there are pros and cons to each product. HELP!!!! Thanks in advance!
Sorry Frazure, but my debt load is minimal and my credit score is excellent…take your advertisment elsewhere.
Thomas
Here’s the info. We want to put an addition onto our home. We purchased it new in 2002 for $119,000 and we borrowed $26,000 on our original loan which is a 5/1 ARM. In our current market area, our home would sell for between $150K and $160K. We will need $50K to do the addition. Which is the best route for us: to refinance and get the $50K or get a home equity loan or home equity Line-of-Credit? It’s all confusing and I know there are pros and cons to each product. HELP!!!! Thanks in advance!
Sorry Frazure, but my debt load is minimal and my credit score is excellent…take your advertisment elsewhere.
Thomas
