High end gasser or entry level DP
As we continue to shop for our new rig to start full time next year I keep teetering on gas vs diesel. (sort of full time - 6 mons at a time, break for a month, 6 months out...) My only real life expe...
Forum Discussion
ferndaleflyer wrote:
2nd mortgage or a line of credit on your home lets you keep your home and buy what you want, Usually interest this way is less than conventional financing also
If you have the equity. Loan to value requirements for HELOC's are usually 80% or more. We just built this home 2 years ago. While we are in a hot/resort area and have some equity, it's not nearly enough. We would have to almost own the home outright to leverage enough equity to buy a MH. We also plan on selling this house within the next few years and I'd like to keep the equity in tact. We did use this tactic on our old home which we had almost paid off - but we were in that one for 12 years.
This transaction will be using savings for a substantial down payment and conventional financing.
