If I remodeled my home recently, is it a good idea to refinance?

Maybe. Improvements may help increase the property's appraised value, but that really has nothing to do with your question about getting a better rate. If your rate is high by today's standards, and you have sufficient equity, having more equity does not necessarily translate into additional rate reduction. However, if you are at 85% LTV prior to the improvements and the appraiser gives consideration to the improvements and that brings your LTV down to 80%, then you would probably get a little better rate AND you could do away with the mortgage insurance premiums. A double win.~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Lots of info missing.. and remodeling has little to do with refinancing.. if your current loan is FHA or VA, then you can refinance, and there's no appraisal necessary.. if your loan is now owned by Freddie or Fannie, and it was initiated prior to May 2009, then you can refinance and no appraisal would be necessary... if you have a conventional loan, and your currently paying mortgage insurance, you could refinance and if the appraised value gets you to 20% equity or more, then you can drop the MI.. but if your interest rate is comparable to today's rate, then you can still have the home appraised, and if you have more than 20% equity, your MI will drop without having to refinance.. 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

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It might be the perfect time. Your remodel will never be in as good a condition as it is now. With rate as low as they are, it certainly doesn't hurt to find out. Please feel free to contact me for a free quote.

The remodeling only makes a difference if you need a higher value to make refinancing possible. The decision on whether to refinance is based on your current rate vs. what the options available to you are taking into consideration how much your costs will be.

Yes! Take advantage of the rates that are here today and get it done. I am a lender here in Union Park and I will have your loan done the first week of January if we get started right away. Call me on my cell phone at 801-971-6901 and/or you can go to my website to get started at www.carlo.blueroof360.com. Thanks Carlo

If the remodel increases your homes value therefore meeting or exceeding the 80% LTV (Loan to Value) threshold or even getting you better than lets say 60% LTV you will be able to get a better rate than if you were above 80 % LTV. So yes it is a good idea in that sense. Make sure you let the appraiser know of all the work that has been performed.

yes, as long as the home is complete.