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FIRST-LIEN HELOC JOURNEY — PART 2 🏠 The appraisal is DONE, and it came back $25,000 higher than I expected. Appraised value: $450,000 First mortgage payoff: $192,000 Existing HELOC payoff: $129,000 New first-lien HELOC balance: ~$321,000 New credit limit: $360,000 Available credit at closing: ~$39,000 Now the experiment gets interesting. I'm going to deposit my payroll and rental income into the HELOC and document what happens to my balance, available credit and interest as I actually use this
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This is an Edward-Verified way of reducing the interest that's due on your mortgage! If you use this the Heloc Strategy, you can pay off your mortgage years earlier. #Heloc #RealEstate #Loans #BankLoan #GetUpleveled credit: Wesley Monroe - @wesleymonroe2 SF0280
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