Quote:
Originally Posted by spazzyfry123
How will you be paying for the $220k condo? Or the expansion for that matter. Not asking for the "humble brag" effect, but I have to imagine the expansion is more cash-friendly than a condo. With interest rates high for a HELOC or outright mortgage, high percent feels less of a burn on a lower principal. If cash is an option for the expansion, but not for the condo, there are additional, significant savings there as well.
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I haven't gotten that far in the process. I would assume the condo would be part cash, part mortgage. Then would plan to refi down if rates go back down. For the current house upgrades would be part cash, part HELOC most likely. Though I don't know the rate variability/flex on a HELOC if interest rates go back down.