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Updated almost 9 years ago,
Interest rates, HELOC, Home Eq Loan, or regular mortgage?
Hi, I'm in the very early phase of looking to buy a SFH rental up to 75K.
I currently owe 280K on a 400k mortgage at 4% with excellent credit.
Considering 3 options to finance the purchase of the rental: 1) HELOC. 2) Home Eq Loan. 3) Normal mortgage+down payment without tapping my equity.
Wondering how typical rates compare between HELOC, Home Eq Loan, and a conventional loan for income property?
Thanks, I know I have a lot more to answer, but for now just thinking about rates