Updated over 4 years ago on . Most recent reply
Heloc plus hard money for brrrr
In the Houston area(go Astros) and I’m in the process of getting my first Heloc. Qualified for 100k. My plan is to buy a home right around 100-120k, rehab with 25-30. Then refinance with arv of around 200, in order to finance 130-140.
The heloc is at 4.5% and hml are normally 12%. So should I use up a good chunk of heloc and minimize the hml cost. Just looking for input on how others have taken this on.