u/Be_bold23

Thinking about opening a HELOC with Wescom. Anyone worked with them before? Would you recommend them? The FRC (Fixed rate conversion) offer sounds lucrative in my case.

Hey everyone! I have a property with a front house (3 bed, 2 bath) that I’ll be living in, plus an ADU (1 bed, 1 bath) that I’m mid-term renting. I’m cash flowing about $1,860/month. I’ve got roughly $300K in equity, and my mortgage is at a 3.25% interest rate. I do have a 6% fixed home equity loan with $70K left on it. Now I’m looking to add a third unit for about $120K. Given all this, what’s a smart way to finance or stack loans for that addition? Would love to hear your thoughts!

Hey everyone! I have a property with a front house (3 bed, 2 bath) that I’ll be living in, plus an ADU (1 bed, 1 bath) that I’m mid-term renting. I’m cash flowing about $1,860/month. I’ve got roughly $300K in equity, and my mortgage is at a 3.25% interest rate. I do have a 6% fixed home equity loan with $70K left on it. Now I’m looking to add a third unit for about $120K. Given all this, what’s a smart way to finance or stack loans for that addition? Would love to hear your thoughts!