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How to Finance |
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I am considering buying a lot in NC now to build a new home within 36 months. I have an extensive amount of equity in my current home and my plans are to sell my current home and move to NC within this 36 month window. Should I borrow against my equity via a prime rate loan or fixed amount? Since my plan is to pay this and the small mortgage I have on the property off after sale of current home, would you recommend an interest only loan. I want to keep the equity amount as low as possible as far as monthly payback. |
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What you're asking me is a matter of personal finance -- I don't know enough about your whole situation and I'm not really qualified to advise on that. If there were one clearly right way to go you'd have found it yourself by now. Sorry I can't be of help. |
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Edith
Originally published on October 17, 2007 |
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