Refinancing Your Home To Cover Remodeling Costs: Is This Something I Can Do?

2020 has been QUITE the year, hasn't it? Since COVID-19 started many people have decided to keep themselves busy with different types of projects. Some may even decide to make some updates to their homes. If this is something you're considering, have you thought about your financial options for covering those costs yet? Our mortgage company at the Lake of the Ozarks is here to give you some information on refinancing your home to cover remodeling costs in this week's blog. No, this option isn't for everyone, but if it's something you are at least thinking about doing, we encourage you to ask your mortgage lender at the Lake of the Ozarks about it first, so you have the facts upfront, before making any major financial decisions. MHQ - Mortgage Headquarters can be reached at (573) 302-9990. At MHQ, You name it, we can do it!

Refinancing Your Home To Cover Remodeling Costs: Is This Something I Can Do?


 Popular Home Remodel Projects
We would like to applaud everyone who has taken this extra time they may have received as a result of the COVID-19 pandemic and turned it into something productive around the house. Updating your home can add major value to it, which is great if you ever choose to sell, but also can just give you a sense of accomplishment that you have improved your home. You likely are spending more time there now, so it's nice to be proud of where you live. Some popular home remodel projects that many may choose to do, can include:

  • Kitchen remodel to make the room more efficient and larger.
  • Bathroom remodel to make the room more functional.
  • Roof update for safety reasons.
  • Landscaping changes to increase curb appeal.
These are just a few examples, but this process is all about meeting YOUR needs at home.


 Refinancing Options To Cover Home Remodel Costs
If you have chosen to refinance your home loan in order to cover your home remodel costs, then "cashing out" maybe your main purpose for your refinance. Whether you are updating your kitchen or your bathroom, this may be the perfect time to consider refinancing. Rates have been extremely low during the COVID-19 pandemic. Ask your mortgage lender about this. If you choose to cash out, you will likely want to get a loan higher than the balance remaining of your current mortgage, but that doesn't mean your monthly payments need to be higher. The best thing to do here is to schedule an appointment with your mortgage loan officer and go over all your options. We would be happy to walk you through them.

Considering Refinancing Your Home Loan To Cover Home Remodel Costs?


Call MHQ - Mortgage Headquarters today. We can be reached at (573) 302-9990 and would love to answer any questions you may have. Again, this process isn't for everyone, but if you are considering it, it's at least worth learning more about. Stay up to date on everything we offer our clients by following us on our social media channels listed below for our latest announcements.




Mortgage Headquarters of Missouri, Inc
4824 Osage Beach Parkway, Suite 1
Osage Beach, MO 65065

Office: (573) 302-9990
Toll Free: (888)799-1206
Fax: (636)648-9917

NMLS # 1229111





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Location: Osage Beach, MO 65065, USA

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