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Updated over 6 years ago on .

User Stats

3
Posts
1
Votes
Daniel Mills
  • Rental Property Investor
  • Daytona Beach, FL
1
Votes |
3
Posts

Which Florida HELOC application is recommended for short term use

Daniel Mills
  • Rental Property Investor
  • Daytona Beach, FL
Posted

My primary residence is completely paid off, so I'm applying for a HELOC to purchase a fixer upper rental property. My plan is to switch over to a conventional mortgage after about 6 months to a year. I am noticing there is a number of different types of home equity loans , 10, 15, 20 years with fixed and floating rates, some of which have special intro rates and others that only require interest to be payed. Does anyone have any recommendations on which loan would be best suited for the short term?