Home equity loan/credit or refinance ?

[Antony Charlier]

Im just starting out and was wondering what is better between refinancing and getting a home equity loan the pros and cons of each and in detail would help a lot thanks !

[Forrest Faulconer]

@Antony Charlier

I would use a HELOC when you don't want to go through the process of refinancing your house, but still want to tap into the equity. Numbers don't lie, run your numbers on getting a HELOC set up vs refinancing, the payments or your mortgage before and after, and the interest payments of your HELOC. If you can use your HELOC and pay it down before interests hits you'll be in a good spot, but it just wasn't for me.