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Jeff Laing
  • MA
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Heloc and 401k loan strategy

Jeff Laing
  • MA
Posted

Wife and I are looking for our first investment property, thanks to bigger pockets and Robert Kiosaki, with a target buy of 6 months. I took 23k out of 401k (loan). We owe 390k on a home worth 450k (VA loan). Should I put the 23k on our homes principle for 6 months and then Heloc for first deal or just continue to save and heloc for less in six months? Will the Heloc be granted up to 100% of appraisal? We have w2 earnings around 200k yearly and good/great credit. Thank you for any advice.

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