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Updated about 5 years ago on . Most recent reply

User Stats

23
Posts
10
Votes
Roberta Marcos Marcos
  • Investor
  • Bay Area
10
Votes |
23
Posts

Credit Card Balance for Deal

Roberta Marcos Marcos
  • Investor
  • Bay Area
Posted

My bank is running a 0% APR balance transfer deal from now until April 2021. I have no CC debt, but I am in the process of buying an investment property, so I am thinking of taking $10k balance and either using it for 1) down payment/closing costs or 2) one time payment for my primary residence's mortgage to increase my equity. We are looking to get a mortgage in our investment property so I am wondering if anyone knows whether this move would hinder, improve or have no affect on my mortgage application.

I plan on repaying the balance before the 0% APR deal is done. Fees are 4%.

Thank you!

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