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Updated over 6 years ago on . Most recent reply

David S.'s profile image
David S.'s profile image
David S.
  • from excelsior, MN
  • Member since Nov 30, 2017
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David S.'s profile image
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David S.
  • from excelsior, MN
  • Member since Nov 30, 2017
Connect
David S.
  • excelsior, MN
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Creative Real Estate Financing

Using Schwab Secured Line of Credit

David S.
  • excelsior, MN
Posted

I have a secured line of credit with Charles Schwab. No up front fees and it's currently at 5%. I am looking at using it to purchase a SFH instead of cashing out equities and I don't like the fees and high rates that come with a rental property mortgage. But I would like to deduct the loan interest against my rental income. Have any of you done this with a loan secured against equities?

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