Updated over 7 years ago on . Most recent reply
Home Equity Loan rules
If I take a owner-occupied home equity loan, how long does the property have to be owner-occupied? Can I get a loan and move out thereafter, or am I required to stay there for some period of time?
I'd like to take a loan to make the downpayment on a second property, which I would like to move into.
Also, interest on home equity loans are always tax deductible, regardless of the purpose of the money, right?