What are the key considerations for refinancing after completing renovations on my home?
When refinancing after renovations, consider your home’s new value, which should reflect the improvements. Check current interest rates; lower rates can mean savings. Assess your debt-to-income ratio and credit score, they play big roles in loan approval. Lastly, factor in refinancing costs—like closing fees—and be sure the renovations actually increased your home’s value enough to offset those costs. Always talk to a mortgage expert!