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suyog · Joined: 23 Sep 2009 Posts: 53 9.38 Dollars($)

I have taken enough home loan for perchas home but before taking house loan could not adjust money for internal furniture decoration. and now i need in some amount for internal furniture for well decoretion. Could bank give me another loan with same deed.

savior70 · Posted: Wed Nov 18, 2009 6:13 am Post subject:

Hi suyog,

You can go for cash out refinance and borrow money in excess of what you owe on the property. You can then pay off the existing mortgage and use the extra money for internal decoration. But there has to be enough equity in the property to do the cash-out refinance. You can also look for a home equity loan to finance the furniture decoration. You won't have to refinance the existing mortgage to get an equity loan.

gmakerley · Posted: Wed Nov 18, 2009 9:13 am Post subject:

suyog, if you just made this purchase, you won't be getting a new loan anytime soon.

furniture dealers offer credit.

suyog · Joined: 23 Sep 2009 Posts: 53 9.38 Dollars($)

thanks to savior70 & gmakerley
After your opinian is bettre for me. I will try to fowlo you.

eric1 · Posted: Thu Nov 19, 2009 3:13 pm Post subject:

I am sure you guys are happy that you have someone fowlo-ing you

Posted: Thu Nov 19, 2009 5:27 pm Post subject:

suyoq, how much of a deposit did you put down? If you have a lot of equity in the property your could look at a cash out refinance or an equity loan/heloc.

If you've borrowed the max amount you can for the house though, chances are you'll have difficulty as Gmak mentioned.

gmakerley · Posted: Thu Nov 19, 2009 9:19 pm Post subject:

well, internal decoration could be extensive - we know nothing of suyoq's tastes. if he's into arabian rugs and garish accoutrements, then the loan he's seeking would probably be reasonally substantial, and that's not anything that a lender is likely to consider right after having financed the purchase.

unless there's a ton of equity, he's going to have to continue fowlo-ing.

eric, sometimes you're just not right.

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can i get refinace?