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Updated over 4 years ago,
HELOC for paid off house VS Get Mortgage for second home
I am looking to buy a second home that will be used to help out some family members. As long as I gain equity long term in the property I am fine with that. I have checked out various sites and know the basic differences between HELOC & Mortgage. I have 100% equity in current home. Many banks (bankers) are flaky and it is tedious contrasting the various fees and data points. Anyone have feedback as to which might be a better route?