home loans – mortgage refinance second mortage

January 27, 2010

If my parents give me a house what kind of loan do I get to make improvements?

Filed under: Personal Finance — Tags: , , , , , , , , , , , , , , — admin @ 3:16 pm
Harold asked:


My parents are giving me their current house and building a new one. The house needs some improvements (Kitchen, Bath, Carpets, etc) what is the best loan to get? I currently rent so I don’t have a mortgage. Do I get a home equity loan, first mortgage, home improvement loan? Please help.

EDWARD

October 26, 2009

Is it true that you can get a home improvement loan built into your mortgage?

Filed under: Renting & Real Estate — Tags: , , , , , , , , — admin @ 6:04 am
Liz asked:


We live in NJ and are looking to buy our first place, but we aren’t sure if we’ll have enough money by the time the process is over for the down payment, the closing costs, the safety net AND new hardwood floors, but we feel that’s necessary to move in. We’re planning to get a townhouse that’s well within our budget in the long run and in terms of monthly payments, we just don’t have the cash up front. Can you build an extra amount of cash into a mortgage, and get it upfront for such upgrades? Thanks!
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