Quote:
Originally Posted by dpg
$600 fee just to pay a loan early???  |
It's not a sure thing, but when you get the HELOC, tell them you're planning to use the funds primarily for "home upgrades". Don't tell them it's going to be a short-term bridge loan for buying another property.
Once you have the HELOC you can use it for whatever you want, regardless of what you put on any forms.
We did this when buying our FL home as well, and made sure there would be no early payoff penalties.