Retaining walls can add significant value to your property. However the project can be expensive. In most cities, you need the building department to approve independent reports from a structural engineer, a soils engineer and a geologist. Then with the plans, you can get bids from construction companies. There are a couple of ways to finance the project.

Can the Cost of Retaining Walls Be Added into Mortgages?

If your plan is to build retaining walls or make some other home improvement, you won’t be able to get the money by adding it to your existing mortgage. Lenders do not permit borrowers to alter the terms of current mortgage contracts.  Instead, you can borrow the money with a refinance – apply for a new mortgage to replace the one you have.

Can the Cost of Retaining Walls Be Added into Mortgages?During the mortgage credit freeze from 2008 to 2012, it was almost impossible to get a refinance that included a cash component. But when housing prices rose by 12 percent nationwide in 2013, banks became more willing to approve these loans. It could, however, be a 2-step process – first getting approval for a loan that includes the cost of the retaining walls, and secondly, getting approval for the project.

A couple of things may be in your favor if you refinance the mortgage. If you’ve been making payments for some time on your existing loan and have good credit, banks are more likely to approve a refinance for the retaining walls, even one with an additional amount. Moreover, because the 2013 rates are still lower than historical averages, your payments may not be much more than what you are currently paying.


Looking for a company that builds retaining walls in Lake Norman NC? Contact us at Renegar Construction. Our 15 years of experience combined with our passion for delivering quality service makes us the perfect company to handle your next project!