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Updated over 3 years ago, 08/20/2021

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4
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Matt Rubel
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4
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Home Equity Loan to purchase Truck

Matt Rubel
Posted

I have three rentals which I've owned for the last 12 years.  I was able to buy them cheap and build a lot of equity which I currently gross $4,600/month and my current net is $2,800 after insurance/tax/mortgage/utilities... I now have a three kids under the age of 3 and both my wife and I have demanding full time careers so I do not see myself purchasing anymore rentals in the current market.  My question is: Do I purchase a truck with the equity that I currently have in one of my rentals?  Would this help save me money on interest?  Truck interest rates are 3% and home equity are at 3.25.  Thoughts?  

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