Can You Take Out Extra Money On Your Mortgage For Renovations?
Can You Take Out Extra Money On Your Mortgage For Renovations? According to the HomeStyle Renovation Mortgages: Loan and Borrower Eligibility requirements, borrowers purchasing a home cannot incur rehab costs more than “75 percent of the lesser of the sum of the purchase price of the property plus renovation costs, or the ‘as-completed’ appraised value