Loan funds, would love opinions…
Option 1, borrow on mortgage, 50k, 270 a month repayment, two year fixed.
Option 2, normal line for 23k, 440 repayments fixed for 5 years, plus borrow the rest off family and payback within a similar time frame.
I see benefits in both, but unsure. Hive mind?
What are the respective interest rates?
Errrrr… mortgage 3.2 and loan 4.1. Not really a credit card guy, I’ll prob forget the interest free period, and don’t think the builder would accept that form of payment.
@NickCJ started
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Loan funds, would love opinions…
Option 1, borrow on mortgage, 50k, 270 a month repayment, two year fixed.
Option 2, normal line for 23k, 440 repayments fixed for 5 years, plus borrow the rest off family and payback within a similar time frame.
I see benefits in both, but unsure. Hive mind?