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Yeah for like the last 5 years I was wondering if I should do a HELOC. But never pulled the trigger. But why do you say this? Is Horizon charging more fees or the fact they take some upside when you sell?
If you take out 10% equity they could end up with 22.5%. That's quite a chunk. Sure the Bitcoin likely outpaces what you lose in home equity over that time but if you got a home equity line of credit and could service the payments you wouldn't lose any equity.
Even if you don't have a lot of excess cash flow (which is the situation I am in because I only work part time) it almost makes sense just to take the heloc, take 90% of it out right away and buy bitcoin but reserve enough cash to cover the heloc interest payments for a couple years.
HELOC it is!
I just checked out that horizon home equity thing. That’s pretty cool.
If you can afford the payments you are probably better off getting a home equity line of credit but it is pretty cool.