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Updated over 5 years ago,
HELOC to pay off mortagage for my rental property
Hello Bigger Pokcets,
I wonder if that discussion came up. Lets say you have a 200K and you have an equity of 120K. Let's ignore the feasibility of a HELOC for an investment home and focus on the financials.
Would it be more beneficial to set up a HELOC for the 80K debt and pay it off?
What if the rental income will be used to pay off the HELOC vs the Mortgage?
Thanks,