Menu

📰
0

HELOC to protect home equity

Reddit r/smallbusiness·u/TheDeucest·about 1 month ago
#HbjSMwX1
#heloc#home#equity#loan#protect#article
Reading 0:00
15s threshold

If I take out a HELOC for the sole purpose of tying up my home equity before applying for a SBA loan, and never use the HELOC, what situations would create the possibility of losing my home? Will I need to pay interest on the unused HELOC? Any downsides to this plan, beyond making it more difficult to secure the SBA loan without collateral?

Read More