Moose10

Well you may have read my post on "Little things that send you over the edge"
Regardless, we have to be here (in S.D.) for at least another two years, and rather than selling the house and all the work that goes with that, I've been thinking about re-financing. Mainly to build a garage, and remodel the kitchen.
Can anyone give me some pointers....questions to ask financial institutions, etc. Anything to help me make a smart decision.
This house like the last, was purchased using the VA gaurantee on a 30yr loan...we started paying in April '05. Time to make some changes.
Any advice or experience is definitly appreciated
Thanks fellow oil burners !

Scramblinman

Are the home improvements going to raise the value of the property more than the lost equity and loan and interest costs? In most current markets, I think that could be a real gamble.

If I was not planning on staying in the home for a long time, I personally would not use my equity improving it, especially if I did not stand a good chance of recouping the costs when it came time to sell.

Just my conservative 2 cents.

Rocky5.9

What are the upgrades to the house? I'm a superintendent of constrution for a large corporation...one of the top five in the country. Depending on how big the loan you plan to take and how eficiently you do or have the work done will determine the good or bad. If you let me know what all needs to be done I can give you a plan of attack that will save some repitition. e.g. You want to paint before cabinets, but have cabinets before flooring...so on and so on. There's a certain way of doing things to make everything more cost effective.

RickG

Register here and get good info . http://clarkhoward.com/p/boards/ch/p...wardrealestate

bulabula

If you can qualify without going through the VA, I would see if its possible to re-fi it conventionally and get your VA loan certificate back.