All Forum Posts by: Albert Cua

Perfect! No wonder the loan officer told me it’s overwhelmingly popular product and always here it amongst investor! 

Hi Kristofer. Thank you for crunching the numbers. The 4.625 interest rate is not for 30 years. It could for sure go higher. 
The pros however is that you only pay the amount your draw. 

Hello everyone! I am a rookie with real estate world. We currently own a home with 4 bedroom and are under construction for the 5th bedroom. We started house hacking 10 years ago not knowing it was. We rent 2 of our bedrooms to international students until the pandemic happened. Last October we switched to Airbnb and doing great so far. 

Now to get to my questoin. We are looking to either build an ADU on top of our garage in our backyard or buy another property. We are planning to get either HELOC or HELOAN to fund it. The interest rate for the HELOAN is 6.699 FIXED rate, 30 yrs term with $1500 fees. The HELOC interest rate range is 3.99-4.625 (just an estimate until they run our credit etc). The loan amount is 200k.

Which one is better for the long term? 

Thank you in advance.

I work as a home health physical therapist and I mostly see geriatrics patients. Most of them struggle with finances and I don’t want to be like that when I retire. I also want to generate wealth that I can pass on to my 2 children.