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Updated about 7 years ago,

User Stats

119
Posts
60
Votes
Chris Connery
  • Rental Property Investor
  • Cherry Hill, NJ
60
Votes |
119
Posts

What Heloc payment should I choose?

Chris Connery
  • Rental Property Investor
  • Cherry Hill, NJ
Posted

So I am maxing out a HELOC on my primary residence to purchase my second investment property, an 8 unit.

Here's my question: Should I take the interest only payments at %5? Or roughly double my monthly payment by making it principal and interest amortized over 15 years? 

Here's my situation. I plan to sell my primary residence in about 5 years. I also plan to purchase more investment properties within the next 5 years. 

Thanks

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