Best Options for Paying for a Vacation/Second Home
I would like to know what the best options are for paying for a vacation/second home. Specifically, would using a HELOC with a combination of personal cash be the best option to pay for a second home. Another option would be put down x amount of cash (40%) and then finance the rest.
If a HELOC is used, is the interest on the HELOC tax deductible if you use the funds to purchase a vacation/second home?
Would love to hear from others that has purchased a vacation home.
Thanks
I would like to know what the best options are for paying for a vacation/second home. Specifically, would using a HELOC with a combination of personal cash be the best option to pay for a second home. Another option would be put down x amount of cash (40%) and then finance the rest.
If a HELOC is used, is the interest on the HELOC tax deductible if you use the funds to purchase a vacation/second home?
Would love to hear from others that has purchased a vacation home.
Thanks
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