Park Slope Renovation/Mortgage

Looking for some help here.

I own a Condo outright. Recently got married and we are thinking of doing a gut renovation of the place.

We don’t have enough cash on hand to do the renovation. My husband has a decent job and should be able to get a mortgage(?) or take out some home equity for the renovation. His name is not on the deed however.

Does anyone have some advice as what are the steps we should take to make this happen?

I googled quite a bit. Do I need to add him onto the deed(does quitclaim deed work) before him going to the bank to take out money?

isalopez669

in General Discussion 3 years ago

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irfan | 3 years ago

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Suggest speaking with a mortgage broker or your bank regarding financing options and the interest rates you might get. You should also speak with a lawyer on the benefits of keeping the condo in your name. There are complicated rules on this.

irfan | 3 years ago

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Suggest speaking with a mortgage broker or your bank regarding financing options and the interest rates you might get. You should also speak with a lawyer on the benefits of keeping the condo in your name. There are complicated rules on this.