The best option for you will depend on several factors. First, I would take into consideration your current interest rate and the terms of the mortgage. Secondly, I would compare that with taking out a conventional cash out refinance loan versus a home equity line of credit. An FHA 203k loan would be your last resort, in my opinion.
Please feel free to give me a call if you would like to discuss your options.
Elva A. Wormley
33+ Years Experience
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / CA BRE #01274093