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AS5620
February 5, 2021
Question

Have you used the money from this loan exclusively on this home? I took cash out to do a remodel on my house. It will be used next year. Do I say Yes or No on this?

  • February 5, 2021
  • 1 reply
  • 0 views
I took cash out of my Refi - in 2020 - contractor won't start work till 2021 because of high demand/schedule.  Can I still answer this ? in turbo tax as yes I've used this loan only on the home it's secured by (even though construction hasn't started yet)?

1 reply

DoninGA
DoninGA
Employee
February 5, 2021

Answer Yes, since it is going to be used to improve your home.

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