Best way to access equity from apartments?

[Thomas Hickey]

Hi All! I am trying to determine the best way & when to access the equity in my 4 unit. - currently owner occupied but I plan on moving next fall - is a home equity loan or cash out refinance loan better? - once I move and the property is no longer my primary residence will there be no way to access the equity or will there be less favorable terms? Thanks, Tom

[Chris Martin]

It's an owner occupied single family (1-4 family per underwriting) so you should be able to qualify for a HELOC. Personally, I would refi at the best terms available at the highest leverage possible IF I thought I could invest with a return that would beat the borrowing expense.

There is really no "right" answer since there are + and - to each alternative.