Well, the general idea would be to get a loan that is not a “mortgage” so the liability (numerator) wouldn’t change. I don’t know if a Title I loan fits this bill, or if that would effect my LTV on the first?

Current owed= 369k
Current Appraisal = 410k (~Jan09, market has gone up a little since then)
current sq ft~1300
Would like to add ~200 sq ft master suite (bedroom with attached bath)

Cost:?
Value Added?

Not really sure on the last two, I know my neighbor across the street built on a room a couple years ago for ~30k to add ~150sq ft.