Investment Heloc vs. cash our refi

[Taylor King]

Hi smart people,

I am deciding between pulling capital out either through an investment property HELOC or cash put refi. Which would you choose and why?

HELOC

~60k out (80% LTV)

-no origination fee, $99/year which can be waived if your interest is equal or higher to that $99

-Interest rate- 4.75% variable

-closing fees if closed before 3 years

-interest only on money taken out

-interest only payments for first 10 years

Cash out refi

-43k out (75% LTV)

-$2,400 for 1 point+ lender fees

-interest Rate- Fixed @ 3.325%

-increase monthly mortgage payment by $50

I have a property in contract and planning on using this cash for a downpayment and repairs. Any and all info would be super helpful! Thank you