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If we could take out a HE loan we would, but things are too difficult in our area right now. I think its a great idea and an easy way to minimize cost and payments. Just think of the financial differnce of paying a really low rate over 30 years vs. a much higher rate over the next 3 years. In the end you may end up paying more but its streched out over a much longer period of time vs. somthing quick. Loan I have looked into need to be paid back in 2-3 years at 12% intrest which in my case would be 500-600 per month, where an extra 30k added to our morgate would be minimal, around 100 per month. As long as you can make the payments and dont go upside down on your house in my opinion there is nothing wrong with a HE loan!
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