Best Loan for Home Renovations

[Vanessa Wheeler]

Hello! Looking to do home renovations ($100k), but need some advice on how to finance it. If HEL or HELOC, would need a loan that uses ARV since much of the house is a work-in-progress, and I'm not confident on how it would do in an appraisal. Also, we just refinanced our house a week ago, so cash-out refi won't work.

Ideally would like something we can pay off over a longer term (15-30 years) so it's not a huge increase monthly.  And eventually we'd look to bake those costs into our next refinance.  By then, our home value would be high enough that we could cash-out refi and pay off the renovation loan balance.

What type of financing would you recommend for something like this?