Updated almost 5 years ago on . Most recent reply
Get heloc vs refinancing
Hi I was considering a heloc for investing. I can take a $65,000 HELOC on my current rental house for a 2% origination fee and the rate would be 6% for 30 yrs. it says any redraws would possibly be at a different interest rate. I would still have over $80,000 equity left in my property. I am wondering if I should do that or just refinance due to the high interest rate. I could refinance for a lower rate but unable to re draw money later. Any advice? Thanks so much!