HELOC to buy studio in Paris
I am thinking on buying a studio in Paris with a HELOC of $300K I have on my primary residence in the US. I would then rent the studio in Paris to have a positive cash flow.
- If I use all the $300K HELOC, how much would be my monthly payment with a 4% rate? (I am not sure if HELOC are for 10, 20 years?)
- Anyone has experience on using HELOC vs regular loan? Pros and cons?