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My wife and I bought a house about 6 months ago, our first one. We are in our early 30's. We want to re-floor the entire place with new carpet and tile, which will run about $7000.

We don't have the cash, but we really need to have it done. Our mortgage is made up of 2 loans, a 1st and a 2nd... so I don't think we can refinance, plus we don't have much equity (maybe 15k).

Should we apply for a home improvement loan or put it on credit cards? We have outstanding credit and are masters at transferring balances on cards for 2.9% rates, etc. The problem with charging it is we already have substantial CC dept.

What is our best option?
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