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?

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.

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