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Updated over 2 years ago, 05/13/2022
Advice: HELOC to repay 401K?
Hey all,
First time homebuyer here looking for some advice.
I purchased first home last year using TSP funds (401k) for a down payment. My goal was to try to pay back the TSP within 5 years to start getting my ROI in my investments.
I recently learned of a HELOC loan/line of credit that may allow me to borrow against my equity. Assuming that I could apply and get approved, would it be beneficial to pay off the 401K loan to get my ROI faster? I am open to any suggestions and can provide numbers if needed.
Thanks!