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Updated almost 7 years ago on . Most recent reply
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Which option do you see fitting best?
I have 3 options to use as my down payment towards my next SFR.
HELOC from my primary home, which I initially leaned towards thanks to David Van Horn's opinion, with a 5.5% variable rate & I believe paid back over 3 years. Never done this before so still learning the ins & outs.
Private money which would be approx a 15k note that I would pay back @7% over 5 years making it a lower monthly payment -
Use my own money. For arguments sake
Most Popular Reply
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Matt Lawrence with the way rates are going I wouldn’t want a variable rate right now. You’re gonna be paying much higher percentages in the coming years.
My vote would be your own money.