Updated about 9 years ago on .
100k on a 5/20 Loan or LOC
Hello everyone! I have been mulling over a decision; figured I would put it to the crown and see what the community has to say. I am buying a property for 100k.
I can either put it on a LOC @ 5% or use a 5/20 @ 5%. Lets assume these were the only two options available, which would be the smartest play? Goal is cashflow and snowball payoff of my other rentals. Additionally, I like to have wiggle room to jump on new opportunities as they present themselves.
Just looking for opinions on what YOU would do and the perspective you have. Thanks!