Which option works best ?

[Erwin McClain]

I have a situation: I've been working with a bank to get a HELOC on my primary in order to purchase my next property. I didn't get the total amount that I asked for and I was quoted at 9.25. I reached out to another smaller lender who states they can get me the total amount i'm seeking with a lower rate. However, I would have to start the entire process again (sending documents, hard credit pull, etc...) for a few points. I plan on refinancing within a year, so would it be worth it ?

T.I.A.

[Matt F.]

If it were me, I would do it. Plans have a way of changing, and it's better to have lower carrying cost just in case.