They Want To Use HELOC To Buy A Vacation Property In Italy. Turns Out, Many Americans Had The Same Idea. Here's How Some Of Them Pulled It Off

Core Insights - An American couple is considering purchasing a home in Abruzzo, Italy, for 220,000 euros ($256,000), intending to finance it through a home equity line of credit (HELOC) [1][2] - The property generates approximately $7,000 annually from Airbnb rentals, raising questions about the viability of relying on this income for financing [1] Financing Considerations - The couple has a remaining U.S. mortgage of about $100,000 at a low interest rate of 2.6%, leading to discussions about whether to pay it off before taking on a HELOC [2] - Opinions on Reddit are mixed, with some users strongly advising against risking their primary residence for an investment property abroad, while others suggest that if it is a dream purchase and financially feasible, it could be worthwhile [3][4] Alternative Financing Options - While a HELOC is seen as a practical option, some commenters proposed alternative financing methods, such as seller financing, which could provide a more flexible approach to purchasing the property [4][5]