I’m new to this and need some Guidance

[Jody R Miller]

I currently pay a mortgage (4 yrs now). I want to potentially rent it out in the future, however, I’m going to need to take out a loan to rewire the house, replace some appliances, etc. I’m thinking about 10-15k will take care everything. What’s the best type of loan to take out for home improvement?

[Jonathan H.]

If you live in the property, and have enough equity, you can likely qualify for a HELOC (Home-Equity Line of Credit). With a HELOC you can withdraw money as needed. You could also do a cash-out refinance where you refinance the property with another mortgage in order to pay off the old mortgage with enough cash leftover for the repairs.