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Updated over 5 years ago on . Most recent reply

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Andre Williams
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19
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HELOC for investment

Andre Williams
Posted

Hi I am looking for purchasing a single family home for investment. I realize that rates of mortgage loan is much worse for investment properties than for primary resident home. I plan to downpay 25% which can give the best rate for investment property. I am also considering to put more money using HELOC from my primary resident home on top of 25% downpayment because HELOC rate (3.6%) is better than mortgage rate (4.5%).

Do you think this is a good idea and right strategy to use?

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