Anna Helhoski

That makes sense. So in terms of equity, our best guess based on what you said is that You have not a ton of equity, but given that you've described that you are in California, you've got this amazing location, this and that. Clearly, if you bought a home in the past couple of years, you're very aware that the real estate market there is...

That makes sense. So in terms of equity, our best guess based on what you said is that You have not a ton of equity, but given that you've described that you are in California, you've got this amazing location, this and that. Clearly, if you bought a home in the past couple of years, you're very aware that the real estate market there is...

That makes sense. So in terms of equity, our best guess based on what you said is that You have not a ton of equity, but given that you've described that you are in California, you've got this amazing location, this and that. Clearly, if you bought a home in the past couple of years, you're very aware that the real estate market there is...

They're very much alive, very vibrant, very much a seller's market. Prices, home values have been going up. So it is possible that if you got the home appraised now, that it's going to appraise for higher than what you bought it for. Also because you did the renovations on it, right? Bringing it up to date. And simply if home values have appreciated in your area.

They're very much alive, very vibrant, very much a seller's market. Prices, home values have been going up. So it is possible that if you got the home appraised now, that it's going to appraise for higher than what you bought it for. Also because you did the renovations on it, right? Bringing it up to date. And simply if home values have appreciated in your area.

They're very much alive, very vibrant, very much a seller's market. Prices, home values have been going up. So it is possible that if you got the home appraised now, that it's going to appraise for higher than what you bought it for. Also because you did the renovations on it, right? Bringing it up to date. And simply if home values have appreciated in your area.

So you might have more equity than you initially might seem to have. And that kind of leads into... the obvious question of, okay, so we have all these amazing home renovation goals. How are you thinking about funding them?

So you might have more equity than you initially might seem to have. And that kind of leads into... the obvious question of, okay, so we have all these amazing home renovation goals. How are you thinking about funding them?

So you might have more equity than you initially might seem to have. And that kind of leads into... the obvious question of, okay, so we have all these amazing home renovation goals. How are you thinking about funding them?

Sure. So just to be clear, there are tons of ways of financing a home renovation. Right now, though, we are talking about different ways of doing it by leveraging your home equity. And if you are talking about something that's on that six-figure scale, that's the kind of borrowing you're really looking to probably do, right? Clearly, $150,000, you're not going to put on a credit card.

Sure. So just to be clear, there are tons of ways of financing a home renovation. Right now, though, we are talking about different ways of doing it by leveraging your home equity. And if you are talking about something that's on that six-figure scale, that's the kind of borrowing you're really looking to probably do, right? Clearly, $150,000, you're not going to put on a credit card.

Sure. So just to be clear, there are tons of ways of financing a home renovation. Right now, though, we are talking about different ways of doing it by leveraging your home equity. And if you are talking about something that's on that six-figure scale, that's the kind of borrowing you're really looking to probably do, right? Clearly, $150,000, you're not going to put on a credit card.

For that much money to a personal loan, the interest rate probably would not be at all in your favor. But in terms of these three options, so we've got cash out refi, we've got home equity loan, and then home equity line of credit, we can just say HELOC. Cash out refinance, I can tell you right now, there's a high likelihood it will be not on the table.

For that much money to a personal loan, the interest rate probably would not be at all in your favor. But in terms of these three options, so we've got cash out refi, we've got home equity loan, and then home equity line of credit, we can just say HELOC. Cash out refinance, I can tell you right now, there's a high likelihood it will be not on the table.

For that much money to a personal loan, the interest rate probably would not be at all in your favor. But in terms of these three options, so we've got cash out refi, we've got home equity loan, and then home equity line of credit, we can just say HELOC. Cash out refinance, I can tell you right now, there's a high likelihood it will be not on the table.

And that's because of where mortgage rates are. So if you bought a couple years ago, there's a good chance that today mortgage rates are higher than when you bought it. So with a cash out refinance, you're refinancing the home. So you're getting an entirely new mortgage. That means a new everything, new term, new interest rate, all of it.

And that's because of where mortgage rates are. So if you bought a couple years ago, there's a good chance that today mortgage rates are higher than when you bought it. So with a cash out refinance, you're refinancing the home. So you're getting an entirely new mortgage. That means a new everything, new term, new interest rate, all of it.

And that's because of where mortgage rates are. So if you bought a couple years ago, there's a good chance that today mortgage rates are higher than when you bought it. So with a cash out refinance, you're refinancing the home. So you're getting an entirely new mortgage. That means a new everything, new term, new interest rate, all of it.

You take out a loan for more than the home is worth, and then you get the difference in cash at closing between the home's value and how much you still own on the mortgage. So that's kind of where your cash out is coming from.

You take out a loan for more than the home is worth, and then you get the difference in cash at closing between the home's value and how much you still own on the mortgage. So that's kind of where your cash out is coming from.