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BTC_P2P | 5 months ago (raw) | root | parent | reply | flag 
 Okay I just looked it up. Typically a new homebuyer can take out a HELOC 30-45 days after close, access up to 80% of their equity value and payback over up to 20 years ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚
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MAHDOOD | 5 months ago (raw) | root | parent | reply | flag +2 
 My guess is youโ€™d have two loans then and the second loan will probably have a higher interest rate because itโ€™s considered more risky ?
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BTC_P2P | 5 months ago (raw) | root | parent | reply | flag 
 Internet said itโ€™s a separate loan, usually variable rate, but typically a similar rate to the initial mortgage. They can be fixed rate too. They can be paid off early. And they can be refinanced. The banks want as much debt as possible no wonder they make these things so sweet.