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Ferarri · 04-15-2021, 08:56 PM

Wondering what the best option is for this scenario. I’m approaching the end of a 5 year term and I’m looking to renew my mortgage. In saying that I have some renos that I want to include. Is it possible to re-finance the mortgage but add these renos to the overall cost?

For example, mortgage value is $450,000 and the expected renovation costs are $50,000. Would I be able to secure a mortgage for $500,000?

04-15-2021, 08:56 PM	#1
Ferarri Powerplay Quarterback Join Date: Sep 2007 Exp:	Mortgage and Home Reno Wondering what the best option is for this scenario. I’m approaching the end of a 5 year term and I’m looking to renew my mortgage. In saying that I have some renos that I want to include. Is it possible to re-finance the mortgage but add these renos to the overall cost? For example, mortgage value is $450,000 and the expected renovation costs are $50,000. Would I be able to secure a mortgage for $500,000?