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A comment on The U.S. Housing Market vs. the Canadian Housing Market. Parent comment
In a $100k home where you owe $80k the HELOC would be like only $10k - and the rate would be less good.
In the same home where you owe $20k (have $80k equity) you could borrow $50k at a better rate.
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In a $100k home where you owe $80k the HELOC would be like only $10k - and the rate would be less good.
In the same home where you owe $20k (have $80k equity) you could borrow $50k at a better rate.