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Updated over 1 year ago on . Most recent reply

Michael L.'s profile image
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Michael L.
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Michael L.'s profile image
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Michael L.
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Michael L.
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Private Lending & Conventional Mortgage Advice

To Heloc or Not to Heloc is my question?

Michael L.
  • Investor
Posted

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?

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Jay Hurst
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  • from Dallas, TX
  • Member since Mar 29, 2017

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Jay Hurst
  • Lender
  • from Dallas, TX
  • Member since Mar 29, 2017
Jay Hurst
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  • Dallas, TX
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Jay Hurst
  • Lender
  • Dallas, TX
Replied
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
  • Jay Hurst
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