Home Equity Loans & Line Of Credit

Q&A
Asked by SHARON
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
Most HELOCs use the Prime Rate as the index, the margin is what is added to the index to determine the effective rate. This margin will vary from one firm to another...
Q&A
Asked by an anonymous user
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
As long as the HELOC is in the first mortgage position you should be able to write off the interest, but double check with a CPA or accountant for your specific situat...
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