Combine Mortgage Prepaying and Equity Lines of Credit and Save Thousands

In order to see if this is the solution for you, you need to go through your mortgage loan terms and check if there are any penalizations for prepaying your home loan. Then compare the amount you’d save on interests with the prepaying fees and the home equity line of credit costs. If the overall transaction saves you at least a couple of thousands and reduces your mortgage length, then seize the opportunity and start prepaying your home loan.

Full text