First, the interest rate on a HELOC works like any other consumer debt interest rate in that it adds to the total cost of borrowing over time. (lendedu.com)
Last year debt interest charges alone were $ 26 billion, which represents a considerable opportunity cost. (canadianbusiness.com)
Debt interest costs are fully tax deductible as a business expense and in the case of long term financing, the repayment period can be extended over many years, reducing the monthly expense. (thebalancesmb.com)