Line of Credit

[Harpreet Walia]

Me and my wife recently bought a new residence place for primary living. This is our first property

We are under conventional loan at 4.1% interest rate for 30 years. We dont want to keep paying for those many years cause of the interest it eats

We both want to get the loan wrap up pretty sooner. We have read about Line of credits options. We both have a good cashflow and definitely dont want to end up paying for 30 yrs.

Questions

1) Have anyone used LOC options for their primary mortgage?

2) Advantages/Disdvantages?

3) Anything we should lookout when going for such option?

Please share thoughts as both, me and my wife, are pretty new here