just bought a new car, and want to refinance on mortgage to pay off and add home addition, smart?

Good Afternoon Tina,It may not make sense to include your car with the refinance. You will want to look at the loan-to-value (LTV). Add your current mortgage balance + remodel cost + car loan and divide that by the value of your home. You will need to keep your loan-to-value at 80% or less. I'm happy to answer your questions over the phone. I can be reached at 877-496-0431 Ext. 307

More info needed, but in general, in most cases it would be smart.. Mortgage loan's have the lowest interest rate around, and the interest you pay can be tax deductible.. so the short answer is yes.. it is smart.. but we would need to look at your complete loan profile to advise you properly.. for this reason, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347