Hello,
I had a house built in 2018 and I'd like to get a loan to finish the backyard next spring. I contacted my bank a couple of months ago and I was pre approved for an 85k loan that would be added to my mortgage. My mortgage interest rate is at 2.74%. With the current situation my advisor said I could get the loan at ~2%.
I was wondering if there are other options out there that would be more advantageous other than a "remortgage". I believe my mortgage is due for a renewal in roughly a year and a half. If I remember correctly the loan will be renewed with the mortgage.
My plan was to do everything slowly in a 3 year period but with the current situation as in materials and labour prices keep raising ive decided to get it done in one shot.
I appreciate any input you might have.
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I had a house built in 2018 and I'd like to get a loan to finish the backyard next spring. I contacted my bank a couple of months ago and I was pre approved for an 85k loan that would be added to my mortgage. My mortgage interest rate is at 2.74%. With the current situation my advisor said I could get the loan at ~2%.
I was wondering if there are other options out there that would be more advantageous other than a "remortgage". I believe my mortgage is due for a renewal in roughly a year and a half. If I remember correctly the loan will be renewed with the mortgage.
My plan was to do everything slowly in a 3 year period but with the current situation as in materials and labour prices keep raising ive decided to get it done in one shot.
I appreciate any input you might have.
Sent from my SM-G965W using Tapatalk