What is the best way to finance a home remodeling ...
# credit
f
What is the best way to finance a home remodeling project? Thanks.
c
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m
How much are you looking to finance?
f
$25k-$50k
f
potentially a Cashout ReFi depending on how much your home is worth? If you need a couple of simple repairs I would suggest a HELOC from a reputable place but $25-$50k sounds like a major project
p
Cash out refi doesn't sound like a great idea if you're existing mortgage has an interest rate in the 2s (which it should be, if you bought before COVID)
f
so then just explore if a Heloc or home equity loan makes more sense I guess 🫠
n
What's your shortest payback period?
f
Don't know. Haven't thought about that yet. I know very little about this. How does the payback period fit in?
n
If the payback period is short, and you're very, very responsible about it, there are 0% APR credit cards... Big pros and big cons You've been warned
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