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Updated over 2 years ago, 08/25/2022

User Stats

41
Posts
10
Votes
Ryan Elam
Pro Member
  • Denver, CO
10
Votes |
41
Posts

Pay down HELOC during Promo Rate Period?

Ryan Elam
Pro Member
  • Denver, CO
Posted

Hi there, 

I have a HELOC with a balance of $82k that is under a 0.99% promo rate until the end of August. In September, the HELOC goes to the prime rate.

What I'm trying to decide is if I should prioritize paying this down before the promo rate ends next week or not. I have the $ to do so, but I also would like to stay pretty liquid over in case a deal comes up. Which I guess I could just use the HELOC again for.

Anyways, any thoughts on this would be greatly appreciated. 

Thank you! 

  • Ryan Elam
  • Loading replies...