Updated about 9 years ago on . Most recent reply
HLOC or Mortgage ?
Hello BP.
I wonder what you think about different of HELOC and Mortgage?
Say for example, I have $200K equity that I can either do
Option 1: Cash out refinance and pull money out to have cash in bank with Interest locked in for 20 year.
or Option 2: I can open up HELOC( Home Equity line of credit ) for $200k at little higher interest and not pay interest unless I use it.
Which option would you do ? and Why