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Updated about 8 years ago on . Most recent reply

Tim S.'s profile image
Tim S.'s profile image
Tim S.
  • from Northeast, Wisconsin
  • Member since Jan 1, 2016
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44
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Tim S.'s profile image
Tim S.'s profile image
Tim S.
  • from Northeast, Wisconsin
  • Member since Jan 1, 2016
Connect
Tim S.
  • Northeast, WI
13
Votes |
44
Posts
Starting Out

My first rental property

Tim S.
  • Northeast, WI
Posted
I currently live in a 2 bedroom SFH purchased for 36k (bank loan of 30k and 6k down payment). I am now interested in purchasing another similar home except with 3 bedrooms. I will again be using the bank to finance the home but I would like to use the equity in my current home. My question is what is the difference between a HELOC and a cash out refinance? What are the pros and cons? Thanks!
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