Financing Presale Condo - Investment
I purchased a presale condo this year as an investment. I put 10% down (cash) at signing and there is another 2 installments of 5% each 6 months apart. I plan to pay the 2 installments with my HELOC. My question is should i turn the borrowed money (2 payments) from the heloc into a mortgage or leave it in the heloc until I take possession of the condo (sept 18) where I turn the whole thing into mortgage. I can write off the interest to the bank during this time, so no too concerned about higher interest rate. Any advice is appreciated. Thanks.