First-Time Home Buyer
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago,
Buying first rental with HELOC
Hello all my name is William and I'm still on the hunt for my first property. I'm about to get my preapproval and hopefully my first property soon thereafter. The question I have is I was planning on using my HELOC for a down payment. I was wondering if just calculating the monthly payback of the HELOC with all other costs/expenses of the home is what everyone does to see if the numbers still work or if they avoid using HELOC at all costs? Thanks in advance!