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re: Paying off student loans with mortgage equity

Posted on 7/23/17 at 8:48 pm to Phil

Posted by Tigerpaw123

Louisiana

Member since Mar 2007

17276 posts

Posted on 7/23/17 at 8:48 pm to Phil

You probably already know this but, Having 70k equity does not mean you can borrow that much, how much will your house appraise for? You can only borrow 80% of that

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Posted by Phil

Member since Jun 2010

368 posts

Posted on 7/23/17 at 8:52 pm to Tigerpaw123

Running the numbers it would be right at what the student loan amount is thatbwould put me right at 80%. I should have been a little clearer in the original message.

Meaning I can borrow just enough and hit right at the 80% mark

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