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Updated over 10 years ago on . Most recent reply

Brian Sachs's profile image
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Brian Sachs
  • from North Las Vegas, Nevada
  • Member since Aug 7, 2014
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Brian Sachs's profile image
Brian Sachs's profile image
Brian Sachs
  • from North Las Vegas, Nevada
  • Member since Aug 7, 2014
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Brian Sachs
  • North Las Vegas, NV
1
Votes |
9
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General Real Estate Investing

home equity loan or equity line of credit

Brian Sachs
  • North Las Vegas, NV
Posted

I have about 60k equity that I can pull out to put down on a buy and hold rental..need advise on which option would be better to use..fixed equity loan or equity line of credit..thanks

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William Dampier's profile image
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William Dampier
  • from Houston, Texas
  • Member since Sep 27, 2014
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William Dampier's profile image
William Dampier's profile image
William Dampier
  • from Houston, Texas
  • Member since Sep 27, 2014
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William Dampier
  • Houston, TX
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William Dampier
  • Houston, TX
Replied

@Brian Sachs A Line of Credit is used for SHORT term financing, while a term loan is designed for LONG term financing. I would encourage you to shop around for a more competitive rate on the Home Equity Loan. Best of luck!

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