Cash-Out Refi or HELOC?

[Carrie Smith]

Hi,

I'm wondering if anyone has experience with Cash-Out Refi or HELOCs to invest in a 2nd home? I was told that a cash-out refi could potentially be better because they have lower rates and have set payments from month to month. Also, how do I know how much house I can afford if I do a conventional loan plus a cash-out refi or a HELOC in conjunction with it? Any examples or experiences with this is helpful!

Thanks,

Carrie