[OkieSnuffBox]

We'd like to do some upgrades, and a few repairs, to the house and with interest rates super low (for now since the Feds have stated they are going to start raising them soon), a 2nd mortgage, or HELOC or possibly another option I don't know of seems like it could be a good idea.

My mortgage broker doesn't do them, but gave me an idea of how they work and a few of the options, but he doesn't do them. He referred me to some one he's worked with for years. I trust my broker, he got me the original loan on my house in 2017, and helped me with my refi in the summer of 2020.

What things I need to make sure I ask his referral about options? Fees? Potential downfalls?

Those of you that have done it, would you do it again? What was your experience like? etc.



I'm looking at something in the $10-15k range. So it would easily be paid back in the next 18 months, even if I don't use the 4 bonuses I have coming up over the next 18 months. So this isn't a matter of stretching finances for something we can't afford, but more using the low interest rates to get everything done at once.