Would it make more sense to refinance and put that money down, as well as take an additional loan, OR just take a home equity line for the 20%?
We are 63 and 65, semi-retired with $600,000 combined in our 401ks, which we rolled over to an investment broker. Our annual income is still slightly more than $100,000. We would like to invest in a beach condo which we would eventually move to when we sell our house in 3-5 years. We do not have enough for the 20% down. It seems that taking from our invested money will be too costly in terms of taxes. We owe $76,000 on our house which is worth about $360,000.