HELOC or Refinance to fund first property?

[AJ Alexander]

Hi everyone,

I'm a newbie looking to get a first deal this year.  I have a question in regards to the financing portion and what others may have done:

I have a HELOC on my primary residence which I could easily use to fund my downpayment. However another option I've heard is to re-finance my principal mortgage to pull equity out and consolidate the downpayment and remaining mortgage amount. I see it as pros/cons in either scenario. Does anyone have any thoughts on which scenario would be best?