HELOC and then refi to avoid cash out rate
Wanted to know if there is away around the higher refi rates on a cash out. My thought is to get a HELOC, pull the cash, and then do a 1st refi, to pay off the HELOC. Would paying of the HELOC still be considered a "Cash out Loan" ?
Or is it just best to do the "cashout refi" and then shortly after try to refi again to a lower rate (if rate /cost makes sense)?