I'm looking to make some changes to my home (approx 20k). I'm also planning on selling the home within the next 2 years. Here's my
question. Should I go with a Home Equity Loan (say 10 or 15 years) or a Line of Credit?
Answers (1)
FIRST ANSWER
I would suggest a line of credit- the prime rate is low right now, and a HELOC gives you the flexibility to only pay interest on what you draw on. A fixed rate loan requires a lump sum allotment. You may even want to utilize your line of credit over the course of the next 2 years as well.
Web Reference: http://www.refi-fhasecure.com
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Answered Thu Oct 1 2009, 07:48 by Patrick Thies in Maywood
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