Updated about 3 years ago on . Most recent reply
HE Loan to buy new primary residence
I’m looking at buying a new house. I currently own a 3/2 with approx 185k in equity and 115k left on the loan. My plan is to take out a home equity loan for the down payment of 20% on a 520k house.
Current mortgage is 1100/mo and HE Loan payment would be ~900/mo
My plan is to rent our current house out as a LTR.
My question is, should I consider the HE loan amount as a loan service in the cash flow equation on the rental, or consider it just as an expense on my new home?