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Updated almost 7 years ago on . Most recent reply

James G.'s profile image
James G.'s profile image
James G.
  • Investor
  • from St Louis, MO
  • Member since Jun 7, 2017
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User Stats

250
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181
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James G.'s profile image
James G.'s profile image
James G.
  • Investor
  • from St Louis, MO
  • Member since Jun 7, 2017
Connect
James G.
  • Investor
  • St Louis, MO
181
Votes |
250
Posts
Buying & Selling Real Estate

Pay off a Hard Money Loan With a Line of Credit?

James G.
  • Investor
  • St Louis, MO
Posted

Hi BP.

I am a college student and cannot apply for a conventional loan. However one option that I have is to get a line of credit at 0% APR for up to 24 months. I could use this to pay my lender, and then I'll be able to refinance in about a year to take care of the credit debt. Plus, every payment that I make towards the credit will be towards "principle." Is this a good idea? Too risky/not possible?

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