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Updated over 9 years ago on . Most recent reply

User Stats

103
Posts
15
Votes
Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
15
Votes |
103
Posts

Pulling equity out for repairs

Terry N.
  • Architect
  • Raleigh, NC and Mid Michigan
Posted
I realize this question has been asked and answered probably a thousand times on here but here goes anyway. I have approx $50k in equity on a property. The single family house has a main loan and an equity line of credit that is at its limit because I've just paid down main loan and interest only on HELOC. (I know, not a great idea). The tenant pay down and appreciation is how I am arriving at the equity number. I want to take out about $10k for renovations. What is best way to do that? Thanks!
  • Terry N.
  • Loading replies...