This is not the same as your original mortgage; instead, it is an additional loan that is often easier to obtain and process compared to a regular mortgage; usually providing lower interest rates than other types of finance.

Obviously the amount you are able to borrow using a secured loan for a fireplace addition will depend on the value of your fireplace. The lender will work with you in determining the value of your fireplace based on its current value, amount of outstanding mortgage, and other debts that you currently have. The lenders will assess all this information before furnishing the homeowner with the amount they are prepared to lend them.

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