Cash out refi or heloc

3 Replies

I wrote a fairly long post on helocs vs cash out refi ....I forget what forum I posted it in but I’d greatly appreciate some feedback from you guys on which option you would choose in my unique situation. Thanks for your help guys

HI @Justin Heitter , if the capital you are wanting access to needs to be permanent or if you have a use for it in an ongoing manner, might as well cash-out refinance it.

Typically you'll have higher interest rates with a HELOC, though the administrative fees are much much less when compared to a cash-out refi. Given the cheaper-than-inflation nature of our current interest rates, though, I'd say that locking in that dirt-cheap debt for 30 fresh years on a cashflowing rental property good be a good play.

@Justin Heitter

Cash out refinance Because it's historically cheap money right now. If you need a little more you can get a HELOC right after. I have been doing several of these since I already have all the docs necessary I can just send them over to your Heloc person.