Quote:
|
Originally Posted by RIJIMMY
the advantage of using home equity is that the interest is tax deductable. Be careful though, if you are doing a 15 yr loan, the paments may be small, but you could eb paying a ton in interest.
|
my 15 year loan is whatever extra I pay per month goes directly to the balance. I pay triple the the amount i should each month so it should only tak 5-7 years to pay off.
I agree.. keeping the loan out for that amount of time is a bad idea.
I just chose that for the hard months, incase i need to make a small payment every now and again.