Help Needed!

[njru99]

Hello,

My husband and I have a combined income of $145000.  Our credit scores range from 660-700.  We currently have no mortage on our home and are in the middle of putting an addition on it.  We were planning to wait until we had the addition done and then take out a home equity loan on the new value of the home.  We ran into some snags and now need to pull out about $30,000 to finish the addition.  What advice do you have for how we should proceed.  Can we apply for a small HEL now and then refinance for a larger loan once the project is done?  If we have no loan but live in the house can we apply for a traditional mortage?  Not sure how to proceed and any help would be greatly appreciated!

Thanks!

[BrianB_The_Loan_Professor]

Ughh sorry you ran into issues - a lot will be based on the current condition of the home

if it is in the moddle of major over hauls you may have to get a opersonal loan and the refi and et cash out after the work is done

if not you can always get a HELOC or if more is needed a straight cash out refinance - 

Good Luck

Brian