![]() I wrote the first version of this blog post a few months later. We used our bank and mortgage holder (Wells Fargo) after vetting competing rates. We opened a home equity line of credit on our primary residence at the end of 2014. If you’re an experienced investor, it may make sense to unlock home equity under certain circumstances. Money management that’s too conservative can prevent us from getting rich. It’s better to save up cash and invest.īut that’s a conservative stance. It’s risky to put your house on the line to chase returns. Generally speaking, I don’t recommend using a home equity loan to invest for most people. You can even use a home equity loan or line of credit to invest. When you borrow from a HELOC, you just transfer the money to your checking account and do what you want. The ideal use of a home equity loan is for home improvement that increases the value of the property by more than the borrowed amount.īut home improvement is not the required use. ![]()
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