To Heloc or Not to Heloc is my question?

[Michael L.]

I got faith that my "BP Fam" can shed some light on this for me, so big thanks in advance. What are the factors other than the interest rate when choosing between a Heloc or a cash out refi?

[Jay Hurst]

Quote from @Michael L.:

I got faith that my "BP Fam" can shed some light on this for me, so big thanks in advance. What are the factors other than the interest rate when choosing between a Heloc or a cash out refi?

HELOC= Short term cash needs

Cash out (or even a closed end second mortgage)= Long term cash needs