Can I Finance Home Renovations Into My Mortgage at Closing?
Purchasing a home that needs renovations or upgrading your current home can be costly, but financing home improvements through your mortgage can be an effective solution. Instead of taking out a separate loan for renovations, some mortgage programs allow you to roll the cost of home improvements into your home loan at closing. This strategy can help you spread renovation costs over time while securing a potentially lower interest rate compared to personal loans or credit cards. How Financing Renovations Into Your Mortgage WorksWhen you finance renovations into your mortgage, the loan amount includes both the purchase price (or refinance…