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Updated over 7 years ago on . Most recent reply

Tu Le's profile image
Tu Le's profile image
Tu Le
  • Real Estate Investor
  • from Philadelphia, PA
  • Member since Aug 14, 2017
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Tu Le's profile image
Tu Le's profile image
Tu Le
  • Real Estate Investor
  • from Philadelphia, PA
  • Member since Aug 14, 2017
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Tu Le
  • Real Estate Investor
  • Philadelphia, PA
1
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20
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Buying & Selling Real Estate

Should I pay off my house.

Tu Le
  • Real Estate Investor
  • Philadelphia, PA
Posted
Hi I have a a house that is worth about $ 400-450k. I have a heloc on my home for $185k and I still own $30k. Should I pay it off with cash and refinance from more money to invest in real estate. Interest rate-4.25%
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Cody L.'s profile image
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Cody L.
  • Rental Property Investor
  • from San Diego, Ca
  • Member since Jan 31, 2013
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Cody L.'s profile image
Cody L.'s profile image
Cody L.
  • Rental Property Investor
  • from San Diego, Ca
  • Member since Jan 31, 2013
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Cody L.
  • Rental Property Investor
  • San Diego, Ca
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Cody L.
  • Rental Property Investor
  • San Diego, Ca
Replied

Assuming you have something lined up for the proceeds, refi, use % to pay off HELOC and invest the rest.

With 30 year money around 4% it's financially irresponsible not to (IMO)

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