Primary Residence Renovations - Creative Financing Options

[Leah C Ogren]

Hey BP Fam! I'm new to this party and learning so much from all of you. I'm at the point where I need to do some renovations to my primary residence and I'm trying to determine the best way to go about it. 

Stats: Current Loan balance: $204,432.64      Current Equity ~ $169,650 

Normally I would just cash-out refi to get the job done, BUT here's what I'm afraid of. I had started to demo the bathroom and figured out quickly it was beyond my skill level. So now there's a large hole in the wall surrounded by more tile. I assume this has to be rectified before I get an appraisal for the refi. If so, that'll be at least 20K to redo the whole bathroom. What I'm trying to figure out is the best way to come up with that money.

Would you take out a personal loan, get the work done, and then quickly refi? Any other creative options? (I dont have any rentals yet to pull from).

This will eventually become a rental, but until I find another primary residence, it is what it is.