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I just bought a fixer for $310K and I am doing a major upgrade of about $60K which includes a legiti

I just bought a fixer for $310K and I am doing a major upgrade of about $60K which includes a legitimate and permitted addition of 160 sqft to this home. How can I refinance and cash out the money of I am putting in for repairs? I have been told I have to wait for one year, is there a faster way to do this?  thanks, Mike S.
  • March 06 2012 - Tustin
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Answers (2)

Profile picture for zilbro
you can look into a 203k FHA home improvement loan, but this type of refi wont hand you cash, you would simply hold the bill statements and the loan issuer would pay them out as you incur the cost.


A.G.
WF Bank
Banker & Loan Officer
  • March 10 2012
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Profile picture for shapiroamg
How much did you put down when you bought? 
  • March 07 2012
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