HELOC Rate & Amount Advice

3 Replies

Need some advice. Getting ready to close on a HELOC and I have a couple of options available....


6.5% (Prime + 1)


5.5% (Prime)

These options are based on 80% & 90% LTV.

Would you go for more available funds with a higher rate?


Lower available funds with a lower rate?

With a difference of $5,600 I feel the lower rate is more ideal...Give me your thoughts BP!

What are you doing with the money?  Do you need the money?  If you have another place to purchase and could use the additional funds then sure... it's more leverage.  If it was me i would take advantage of all the funds you have at your disposal and use it for more flips or BRRRRs etc...   

Thanks @David Roe

Don’t need it. Just want to utilize it for investing. I have since closed on this and pulled maximum allowable funds. 

Better to have it and not need it than to need it and not have it.  

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here