Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
traditional loan vs HELCO? Which should I start with?
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.