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All Forum Posts by: Aaron Anderson

Aaron Anderson has started 5 posts and replied 11 times.

Post: Cash out refi vs. HELOC on primary residence

Aaron AndersonPosted
  • Homeowner
  • Lino Lakes, MN
  • Posts 16
  • Votes 2
Looking for advice on financing my first rental property. I have a significant amount of equity in my primary residence. Am I better off doing a cash out refinance on my primary home or a HELOC? Mortgage details: Appraised value: $380K Loan amount: $166K Interest rate: 3.875% Term: Year 6 on a 20 year Cash out refi quote: New loan amount: $266K Interest rate: 4% Term: 30 year HELOC quote: HELOC amount: $100K Interest rate: 4.5% Terms: 10 year draw + 20 year repayment