Posted on: 29th Aug, 2008 06:03 pm
We have about $60,000 of equity in our home. We would like to get a loan on the equity so we can buy a lot to build our next home in the next few years. What will be the best and cheapest way to do that?
hi cabbett,
you can take out a second mortgage or a cash-out refinance loan on your home. but you need to decide the one that will suit you better. what you can do is, use the cash-out refinance vs. second mortgage calculator to calculate, compare and decide upon the right choice.
take care
you can take out a second mortgage or a cash-out refinance loan on your home. but you need to decide the one that will suit you better. what you can do is, use the cash-out refinance vs. second mortgage calculator to calculate, compare and decide upon the right choice.
take care
