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Hi Joanna. If you own your home this could be an ideal time to take advantage of a government program that ends later this year. You may have heard of the HARP program or even applied before and been turned down, but things have changed. The new program helps you refinance at a lower rate. There is no limit regarding the ratio of your debt to the value of the home and you typically don't even need to have an appraisal. This could allow you to save some money monthly and maybe even take some additional cash out. You can learn more details about it here.  If HARP doesn't work for you you could still look into refinancing and include the cost of  the repairs and improvements you want to make in the amount you finance.