Renovation Loans for Primary Residence

[Tyler Manning]

I recently purchased a home with an FHA loan and plan to convert the basement into a STR. I live in the property so it will be owner-occupied. I need to replace the carpets, add a shower door, and a mini kitchenette. I have hired a contractor and he has quoted this will cost me around $7000. What renovation loan options are available to me here? Which ones do you recommend?

[Jeff Chisum]

Just get a short term unsecured loan.  $7000 wouldn’t be worth the refinance costs.