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A comment on Every thought about personal finance I've ever had, as concisely as possible. Parent comment

Re:Every thought about personal finance I've ever had, as co... by brightball on Friday February 26, 2021 @07:45PM (#26281592)
If you have more than 20% equity in your home, open a HELOC. It’s like a super low interest credit card for up to 80% of your equity.

Then never use it. There’s your emergency fund.

Critical thing is that you won’t get approved for one when you need it, so open it when you don’t.

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Re:Every thought about personal finance I've ever had, as co... by sgerenser on Saturday February 27, 2021 @12:36PM (#26286443)
If it’s only for an emergency, the interest rate doesn’t matter much. Many banks and credit unions offer 90% or even 100% LTV HELOCs at a rate a couple percent higher than the usual 80% LTV.
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