1164 - Can You Add Renovation Costs to Conventional Mortgages? by Ana Gotter

You can add renovation costs to a conventional mortgage, but only when you’re using a conventional cash-out refinance.  If you’re doing a cash-out refinance on an existing home, you can withdraw additional funds on top of your existing mortgage balance. This will give you a new conventional mortgage that replaces your existing one and allows you to access funds from your equity that can be used for renovations.  While you can add renovation costs to a conventional mortgage with a cash-out refinance, there are other options to consider that may be better suited to your needs. Learn more about your ad choices. Visit megaphone.fm/adchoices