Refi vs heloc? Which is the better?

[Blake Hufman]

Hey everybody, Quick question, we have a house in Seattle that has pretty much doubled in value since we bought it. We don't really want to sell, but we do want to take advantage of the equity. What do you think would be better - refinancing or a heloc? And why? Thanks in advance!

[Jassem A.]

Refinance will probably have a lower total payment and a heloc will have low/no closing costs. If you plan to do flips or you do not have any short term plans for the money then I would go with the heloc so that you can pay it off and reuse it.