So you have finally purchased that 19th century farm house that you have always pictured yourself living in the problem is how do you finance the restoration? It is easy to get mortgages for the value of the home even a little extra if you have a good credit rating but today a renovation can cost more than the original purchase price of the property.
The first option s to look at your available assets. You can get a home equity loan if there is any equity in your house. Use your credit cards for short term renovation or borrow money from your parents these ideas are only usable in a short term renovation once the renovations completed you should be able to refinance your home and pay of the relatives, high interest credit cards and roll your home equity loan into your mortgage.
You may be able to get a line of credit a line of credit is usually easy to get up to $30,000.00 with out much effort and with a minimal amount of paperwork these lines of credit are good for short term renovation that are under the $100,000.00 dollar mark. The interest rates tend to be on the high side but you can draw out the money as you need it and only pay interest on the cash that has...
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