Hi Folks
Just a quick q that I have.. I've got a few variable loans and one fixed at 8.6% with a lender. I've also got a variable rate LOC that I'm not currently using. I've been working on reducing the balance of the fixed loan first and foremost, and my LOC is around 1/4 the size of the loan.
Is there any reason why I couldn't transfer 1/4 of the balance to the LOC and pay it from there? It would make a sizeable difference to the payments with the interest rate cuts that we're seeing.
Just a quick q that I have.. I've got a few variable loans and one fixed at 8.6% with a lender. I've also got a variable rate LOC that I'm not currently using. I've been working on reducing the balance of the fixed loan first and foremost, and my LOC is around 1/4 the size of the loan.
Is there any reason why I couldn't transfer 1/4 of the balance to the LOC and pay it from there? It would make a sizeable difference to the payments with the interest rate cuts that we're seeing.
