Home and Auto Home Equity loans - Page 2

**The Bad Guy** · 07-21-2017, 09:03 AM

I'm researching the pros and cons of a home equity loan. We built our house in 2011 and put off finishing the basement and some other small projects because we had several bumps in the road that ended up costing more to finish the house.

We have built up some solid equity in the home and using that line seems to be the best way to go to finishing the basement and paying off a student loan.

I'm seeing around 4.15% at the bank I have my mortgage through.

What are some of the drawbacks that I have no idea about with these types of loans?

Thanks in advance for any guidance.

07-21-2017, 09:03 AM	Topic Starter
The Bad Guy Scott Pioli Join Date: Jan 2001 Location: The Copacobana Casino cash: $9283645	Home Equity loans I'm researching the pros and cons of a home equity loan. We built our house in 2011 and put off finishing the basement and some other small projects because we had several bumps in the road that ended up costing more to finish the house. We have built up some solid equity in the home and using that line seems to be the best way to go to finishing the basement and paying off a student loan. I'm seeing around 4.15% at the bank I have my mortgage through. What are some of the drawbacks that I have no idea about with these types of loans? Thanks in advance for any guidance.
Posts: 23,216