Home Equity Loan- Is It Wise? (9% interest)

[Allen M Miller]

I am currently in the process of applying for a home equity loan. Ill be able to pull 33k out, BUT it's a 9% interest rate. Should I even consider doing it? I'd use it to put 20% down and renovate, myself. I would pay it down with the cashflow.

IS THERE A BETTER WAY TO GET STARTED?

Should i dip into savings and buy turnkey?

[Henry Lazerow]

You could just use an 18 month 0 interest credit card and a few together should get you close to $30k. I wouldn't waste money on the close costs for such a tiny heloc and 9% is awful it should be prime +1 so 6.5% right now.