Updated almost 5 years ago on . Most recent reply
HELOC Investing Strategy
Hey Everyone,
Quite a bit to unpack here but I'm in a bit of a cross roads on how I should approach using a HELOC.
scenario 1: Utilize to pay off Car Loans + 2nd Property down payment? ($100k)
scenario 2: Accelerate mortgage strategy.
Which means I keep the current loans and hold off on the 2nd property.
Current Situation
I have about $100-120k equity depending on the appraisal.
My loan is currently in a FHA (2.5%) with MI $335/Month with 29 Years to go.
What would you decide?