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Updated over 2 years ago, 08/25/2022
Pay down HELOC during Promo Rate Period?
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!