Refi or no?

[Sean Starkey]

We bought our house in Huntington Beach for $749k at a 2.75% rate in January 2020. We took a HELOC out on it a year later for $180k at a variable rate to buy our first short term rental. I was new to investing and didn't have an exit strategy nor know the severity of this HELOC monthly so now we still owe $169k and it's over $1500 a month interest only. My question is do I Refi our primary and pay the HELOC off? It was appraised for I believe $1.05 million a couple months ago. Thanks all

[Reed Rickenbach]

Run the numbers. I doubt refinancing the entire balance at today's rates will solve any issues. It will likely result in an even higher total monthly payment.