Home Equity loan, Line of credit or other alternate sources?

[Cadcom]

I think it really comes down to fee$..
The difference in interest rates 1-2% up or down doesn't make a whole lot of difference on a short term loan but the banks or lenders who want application fees and closing expenses and appraisals and inspections etc and etc... it all $tarts to add up on a short term equity loan..

That's one thing I got tired of real quick when I was looking around.

 

[Flatblack79]

Are these improvements a must right now or just a "would be nice to have now?" How long would it take to just save up the $12-15K and pay cash?

 

[alleycat]

Sell stuff. Pay cash. No payments.

 

[DinkyDau]

Sell stuff. Pay cash. No payments.

I agree! with this amount it's better to save what you need, rather than putting yourself under more debt.

 

[Cadcom]

Are these improvements a must right now or just a "would be nice to have now?" How long would it take to just save up the $12-15K and pay cash?

Looking to sell the house in a few months. At this point I am far enough along that I can show it and give an allowance for carpet. It needs to be replaced but no guarantee that what I put in would be what a new homeowner wants anyway.

 

[Bushwick100]

I have had my house going on 14years, homes in my area (SUWANEE) have skyrocketed and I'm scared of any LOAN!

 

[Flatblack79]

Looking to sell the house in a few months. At this point I am far enough along that I can show it and give an allowance for carpet. It needs to be replaced but no guarantee that what I put in would be what a new homeowner wants anyway.

In this market not many buyers will care about the carpet.

Some friends just won a house bid yesterday. I say a bid because they had to offer $25K over asking price to get it. This market is insane.

 

[Cadcom]

In this market not many buyers will care about the carpet.

Some friends just won a house bid yesterday. I say a bid because they had to offer $25K over asking price to get it. This market is insane.

I hope not. It's dark green carpet that my ex-wife picked out. It looked good years ago when the house was new. Now it's just old and dark and depressing. Kinda like her!

 

[MrJim]

If I remember right we did a re-fi to build a pool years ago. House was a few years from being paid for. Then again about 8 years ago we did another to buy some more property next to us. Now we got about two years until we are paid off.

 

[Gimmeguns]

I have one open for 40k. Zero balance, but I'm allowed to draw this amount anytime I need for the next 10yrs. Then it closes and payments are setup. It allows me financial flexibility without using my cash stash.