[MikeC82]

Could someone tell me what steps to take in this situation? Our home is currently appraised at $150,000. We've only built up $10,000 in equity. We are interested in building an addition on to this home - I estimate this would cost about $35,000. Would this mean adding a 2nd mortage, or could I increase the loan amount on my existing loan? As a part of this, we are also looking at re-financing. Hope this makes sense. Any guidance on which steps (if any) I can take? I know we haven't built up much equity yet.