I had some storm damage and a part of my house is being gutted and remodeled.

Wait until the repairs are complete. lenders do not like to step in, when repairs are in progress.

obviously you would have to wait until the repairs have been made, but you can start the process now by contacting a local mortgage broker, and let him give you an idea of how much cash out you can take if any.. typically, if your in a storm laden area, then it's possible that valuations would go lower since not everyone will get their home repaired.. some might just pocket the cash and sell the home for a lower price, and this could affect your values.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Honestly, you can go through the progress and get the house appraised with you attempt to refinance to cash out. However, just because you remodeled doesn't guarantee an increase in value to your property. Especially in a storm damage area. There are other homeowners not as fortunate as yourself and their damage houses are helping people purchasing in that area. It just might be too soon to tell. How are you looking to cash out?

Agree with others, you'll likely need to wait until the work is done - but you may be able to get the process started and get a "subject to completion" appraisal. The longer you wait values may continue to increase in the area.

You really need to wait until the repairs are done, then you can do the refinance.

Since the new appraisal is going to take into consideration the condition of the home, you would definitely want to wait for the appraisal to be done AFTER all of the work is done. You can wait until the work is completed, but you probably could start the loan process 2-3 weeks before the work is done. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

You can get started, but the loan won't be complete until the repairs are complete.

As everyone else has stated you need to wait until all work is complete. Unfortunately in this market depending on the remodel it may not increase your value alot

I totally agree with them, but if you want to fix your house and don't want to spend money now,, you may consider a 203k loan. I will be glad to assist you if you still need help, and you can reach me at (201) 434- 0005, best wishes.