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Here we are: We have excellent credit (no debt, score > 800), 1m in liquid assets plus decent 401k. We are thinking about buying a place in need of a complete gut reno. Place would be 1m (incl. closing costs), reno 650k +/100k (haven’t speced it out completely). So far we found financing for the place with 20% down – mortgage of 764k.

With these numbers depending on it works out we would have somewhere between 100-200k left.

We are wondering if there different kind of financing available partial financing of renovation costs.

Thanks!