Should we take out a home equity loan to replace the roof on our home? Or is there another option that's better?
We are going to need a new roof in the next year, maybe two. We have some equity in our home and our interest rate is 4%. Would it be better to take out a home equity loan or a bank loan to cover the cost of the new roof?
Answers | 1
August 02, 2016
Asked by Charles Jones
Answered by Mark Haynie
Mortgage Professional in Los Angeles, CA
Based on the 2.5% rate of your HELOC, it appears to be PRIME -.75%, which is a pr...
Asked by Nancy