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Plus Loan Refinanced with Home Equity LOC

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02-01-2010, 01:58 PM

tjlamphere tjlamphere is offline

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Join Date: Feb 2010

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Plus Loan Refinanced with Home Equity LOC

I have a large PLUS loan that has an interest rate of 6.25. I am getting a Home Equity Line of Credit. Right now, due to my income, I am not able to deduct the interest paid on the PLUS loan. With the Home Equity LOC rate of 3.50, does it make sense to pay off the PLUS loan and get the lower interest rate on the HELOC + have the ability to write off the interest on my taxes ?????

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