I'm planning a good size renovation, around $50,000.My house is paid for,it appraised around 250-300k. It's not fancy, but everything is expensive. Am I better off getting a loan from my bank or a mortgage lender company? I'm new to this,any advice is appreciated.

Get a Home Equity Loan from your bank. With a Home Equity Loan the loan is already paid in the event you must sell your home - and in theory you are just paying interest on your own money.

You usually only pay interest on the money you’re using with HELOC. Might help if you’re not charged a bunch of fees to set it up.

Credit Union will likely have the lowest rates.

We used a HELOC on our old paid off house to have a big down payment on the new place. It was the easiest and cheapest option for us

We used a HELOC to buy our new/used vehicle, and remodel kitchen. Lowest rate at our credit union and it just adjusted down 1.25 percent. It is also still a tax deduction.

Once a house is paid for keep it that way. Do you really need the addition?

This^

You better have a ton of deductions or it won't help taxes. Tax laws have changed with the increase in standardized deductions. You only count the interest not the full amount. ONLY bad thing about a heloc on a paid off house is if something happens to you physically. If you lose your income then they can't take your house. But how long can you survive there with out some income.