Want to buy a fixer upper?

How does it work with the loan? Say, for instance, I was approved for 150,000 and I bought a house that needed some TLC for 100,000. Could I then borrow the other 50,000 for repairs and remodeling, or do I have to apply for a whole other loan? And, if I do have to apply for another loan, how does that work? ... show more How does it work with the loan? Say, for instance, I was approved for 150,000 and I bought a house that needed some TLC for 100,000. Could I then borrow the other 50,000 for repairs and remodeling, or do I have to apply for a whole other loan? And, if I do have to apply for another loan, how does that work? How do I know how much I'll be able to work with?
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