Accessing Equity in Personal Home (HELOC)
Hello, I have another question regarding accessing the equity in my home to purchase my second income property. I'm leaning towards the HELOC option to use as a down payment for my second income property. Any thoughts on this option and do most investors choose to pay interest only on the HELOC? The rates on the HELOC are higher than my current mortgage making the HELOC for a down payment more costly, would interest only payments be the best way to proceed with this?
David