HELOC versus. Cash out REFI

[Candice Coates]

I keep going back and forth on this and want to hear how the community is thinking about it in today's rate environment.

A cpl of questions:

- If you're sitting on $50K-$100K of equity and want to pull it out for your next deal, how do you decide between a HELOC and a cash-out refinance?

-Has anyone regretted going one way over the other?

-What was your strategy when purchasing another property while in your first home?

My interest rate is at 6.75%, and the refinance options were only bringing it down 1%. To my understanding, the HELOC option is something you will have to pay back, versus the cash-out refinance, which impacts your equity/mortgage.

What does the community suggest?

[Avi Weichman]

I wanted to answer but @Derek Brickley already covered most points.