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Texas Home Equity Note Fixed Rate First Lien Form 3244 1PDF

Texas Home Equity Note Fixed Rate First Lien Form 3244 1PDF

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hey guys it's Bill of Truth and equity and I have a very short honest raw video about interest between a conventional loan and a first lien HELOC and I'm going to show you why I don't like them and you should avoid them firstly in HELOC set is all right now on a conventional loan the interest on 300 000 at four percent is a thousand dollars for that month doesn't matter if it's the first month or the 119th that's what it calculates up to now if you convert to a first Lane HELOC you convert that same 300 Grand you're going to get about seven percent that's a pretty good rate right now that's going to cost you seventeen hundred and twenty six dollars in interest only you're adding 726 dollars to your interest costs compared to your conventional mortgage and that amount of interest at four percent when you do the math that equates that interest equates to a two hundred and eighteen thousand dollar mortgage at

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