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View Full Version : New home addition -home equity loan or remortgage


jalute
Mar 8, 2007, 11:17 AM
I am 54yrs old and have only 3 yrs left on mortgage.. I want to put on a new addition to house and looks like I will have to borrow $80,000.. Do I want to do home equity or remortgage? I would like to retire in 11 yrs or less

ScottGem
Mar 8, 2007, 11:43 AM
That's totally up to you. It might be better to have a home equity credit line for the future. But either way is valid.

The best thing is to compare the costs of getting each type of loan.