Updated over 6 years ago on . Most recent reply
Downside of a HELOC? Your opinions?
Hey all, I'm new here and looking at getting into real estate investing. I'm curious if anyone can tell me the downside of a HELOC. I was able to find a local bank that will give me a HELOC at 85% LTV on my primary residence for no fees at prime.
This seems like a really good way to get financing for my future real estate investing deals, can anyone tell me any downsides to using a HELOC (aside from the obvious interest payments)?
Does this make me any less desirable to other lenders?
Does it impact my credit negatively?