Best way of paying off Heloc before 10 year mark? Cash out refinance? What if not enough to pay off remaining principal? I have never used a Heloc before getting a tentative rate of 5.25. After how long of holding the property should I do a cash out refinance? Thank you.
What's the 10 year mark? When the entire balance is due? You can determine an amortization schedule that will pay it off in a specific length of time at xx amount per month.
Interest only is 500.00 per month with principal it’s 1600.00 for 140k loan
If I were to pay off in 10 years it would cost 1600 a month.