Cash out Re-Finance or HELOC

[Luis C Ceniceros]

Hi Everyone ,

I'm looking for some advice on making the best decision overall.  My primary residence right now is worth $170k on a 50k loan. Im in the process of closing on an equity line of credit for $90k , which im planning to use as down payments to fund my investment properties. I just recently (this week) found out about cash out refinancing and am thinking about canceling line of credit and doing a cash out re-finance instead  . I havent had a chance to do the research but i wanted to hear some of your opinions on this matter.  Should i cash out , keep line of equity or just  finish paying off property? looking forward for any input- thanks!

[Brandon Sturgill]

@Luis C Ceniceros HELOC. Cash-out is a last resort...credit unions can go to 98% LTV on a HELOC with a 15-yr payback period on a 30-yr am schedule...true interest only payments...you only pay on the principal...

But in general, yeah- HELOC makes more sense.