Well put! I won't pull money out of my house either.
I don't have much on credit, and I pay credit cards in full when I use them,
but if I did, I still wouldn't borrow off my house to pay for it.
If you get in trouble with car payments because something happens to your
income, they repo the car. If you refinance your house to pay off credit
cards and auto loans and lose your income, they take your house.
An airplane is something I will have to finance, but I"ll keep it separate.
The rate you're getting quoted sounds good.

Alex

NEVER, EVER jeopardize your homestead to finance a hobby.

Dave

John Doe wrote:
Read in one of the monthly magazine rags about getting a home equity loan
or refinancing your house and getting cash out to pay for an airplane.

Has anyone actually done this and if so, is this a better option than
just getting a straight aircraft loan.

I'm being quoted 6.75% right now for a 20 year fixed for the amount I
want to borrow for a plane. Refianance companies have said I could get
under 6% if I roll it into my home loan.

Any advice would be great.

Thanks.