Plus loans vs home equity/mortgage loans

nkl811
Wed, 28 Apr 2010 18:12:44 +0000

Thanks so much for the input milkandsugar and notrichenough. The rate is actually 4.375 and it is fixed. Notrichenough is right, we do have alot more equity in the house than what we are pulling out, so we could take out a home equity loan if needed on top of the mortgage. If my daughter decides to go to the state school after one year, we could always pay off the mortgage sooner by paying extra principal payments. The death issue is definitely a benefit from the plus loans, but hopefully we aren’t going anywhere anytime soon:) The idea of extra life insurance is a good plan.