Zillow Advice: Mortgage Types - Can I do a cash out mortgage on a vacation home in drywall stage. http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ Zillow Advice | Zillow Real Estate This is a similar question: ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ This is a similar question: I bought a second home with a <a href="http://www.zillow.com/home-equity-loan/">home equity loan</a> on my primary residence.&nbsp; Now after many improvements I want to get a <a href="http://www.zillow.com/mortgage/">mortgage</a> on the second home and pay of the HEL.&nbsp; Can I get a traditional mortgage - even though I own the house already -&nbsp;or do I have to get another HEL based on the value of the second home, with a crappier interest rate? Tue, 17 Feb 2009 17:24:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-17T17:24:00Z I Appreciate everyone's input ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ I Appreciate everyone's input on this.&nbsp; Thx John Thu, 12 Feb 2009 22:18:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:18:00Z There is a reason your best ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ There is a reason your best offer is a construction <a href="http://www.zillow.com/mortgage/">loan</a> and that is because the construction needs to be complete before you find traditional financing.&nbsp;There is too much work that needs to be done. Thu, 12 Feb 2009 22:14:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:14:00Z Not exactly sure on that.&nbsp; ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ Not exactly sure on that.&nbsp; I've been getting taxed as of 2007 as such.&nbsp; I'm appealing that right now.&nbsp; The area this cabin is in does not require permits to be pulled, etc...&nbsp; Not annexed into the city as of today. Thu, 12 Feb 2009 22:13:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:13:00Z How can you have a Certificate ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ <p>How can you have a Certificate of Occupancy with no cabinets or flooring?</p> Thu, 12 Feb 2009 22:10:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:10:00Z Did you switch to Geico? http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ Did you switch to Geico? Thu, 12 Feb 2009 22:09:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:09:00Z I do have certificate of ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ I do have certificate of occupancy and will begin looking at <a href="http://www.zillow.com/directory/lenders/">lenders</a> for options.&nbsp; Best thus far is a 3/5/7 ARM construction loan.&nbsp; To only refi later.&nbsp; Not a good option. Thu, 12 Feb 2009 22:09:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:09:00Z No, but look how much money ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ No, but look how much money I saved on auto insurance Thu, 12 Feb 2009 22:06:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T22:06:00Z An issue is whether or not ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ An issue is whether or not a Certificate of Occupancy can be issued, and without cabinets, flooring, etc.&nbsp; It can't.&nbsp; So, in my opinion, no. Thu, 12 Feb 2009 21:59:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T21:59:00Z In my opinion, you are going ... http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ <p>In my opinion, you are going to need to finish the project before lining up any financing.&nbsp; The appraisal would be "as is" and you will need to find a <a href="http://www.zillow.com/directory/lenders/">lender</a> that would approve it as "subject to".&nbsp; Those aren't the easiest to come by.</p> Thu, 12 Feb 2009 21:57:00 GMT http://www.zillow.com/advice-thread/Can-I-do-a-cash-out-mortgage-on-a-vacation-home-in-drywall-stage/198726/ 2009-02-12T21:57:00Z