Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

265
Posts
59
Votes
Eric DeVito
  • Staten Island, NY
59
Votes |
265
Posts

traditional loan vs HELCO? Which should I start with?

Eric DeVito
  • Staten Island, NY
Posted

Hello all, so I narrowed in on an area I want to invest in which is Allentown, PA. Looking to get a SFH. My question is I can use a Traditional loan but the property price will be lower due to the amount of savings I have which is around $10,000 or I can try to get a HELCO from equity I have on my primary residence which I should be able to get a line of credit around $50,000 from various banks I have spoke to thus far. This will able me to purchase a better property perhaps or at least I could pay off a property in full because the area I am looking in I could get a SFH below $50,000. Need advice please!

PS: I already have a VA Loan out for my primary residence which I purchased last year and it is a SFH.

Loading replies...