How much money can i get to remodel my house?

Beryl
I owe $75, 000 on my house which i just refinanced. The house is worth $94, 600.

Christel
Assuming that you have decent credit and your bebt/income ratio is good, you shouldn't have a problem getting up to 100% of the value of your home, which is about $20k. Some lenders will go as high as 125%. Even more important is what you mean by "remodel." You can do a lot for $20k, and that could certainly raise the value of your home. If all you're doing is replacing a leaking roof, painting the house, etc. you won't really increase the value of your home. But if you're putting in a high-end kitchen, making a spa-like bathroom, turning extra space into an extra bedroom, adding a bathroom, etc. then you should go over that with your lender. You may even increase the value of your home more than the loan you're looking to take out.I'm doing work in my condo for that very reason. I'm putting up a wall to add another bedroom, putting in high-end closets, and putting in some high-end bathroom upgrades. The increase in appraisal value is about 3 times what my cost will be. No lender will have a problem with that.

Tawna
It seems you have about 20k equity. You could borrow up to that amount.

Deandrea
YOu can get 19600$ that is the 100% equity on your house. As you mentioned you just refinanced so you don't need to refinance again if you are paying a good rate now. What you can do is apply for a Second mortgage or HELOC for home improvement.If you are really looking for a good deal i can help you with that, write me at refinance@inbox.comThanks and good Luck for your Mortgage.

Janita
Most home equity loans will loan whatever equity you have in your house. Some will loan more. Be very attentive to fine print with these loans.

Darron
First I would talk to a realtor and find out what the comparative market value is for your home in the area. Don't forget your home is only worth the amount it sells for. Is your home assessed for $94, 600 or is that what homes are selling around you for. Most realtors will come out and give a free analysis of a listing price and also include the CMA with that. You don't want to put too much into it, if you won't get it back in the sale.