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What’s better for buying a second home: HELOC or personal loan? - MoneySense
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What’s better for buying a second home: HELOC or personal loan? - MoneySense
Ask MoneySense I am considering taking out a HELOC loan to buy another property. Is this a wise decision, or would a loan be better? My bank advises me that I can qualify for a $400,000 HELOC. –Caren When buying a second property, Canadians can choose from a number of financing options, including a home equity line of credit (HELOC), a mortgage, or a personal loan. Before you decide, it’s a good idea to consider practical matters including inter…
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