Refinancing mortgage vs Home Equity Loan

[Peter Kehr]

Hello BP! First time poster here, 

So I've got about 130k left on a condo worth 260K and I want to pull money out for a new home. Would it be better to refinance the mortgage or take out a home equity loan? Some sites have home equity loans being the better option as closing costs are cheaper and interest rates seem only .5% higher. Also worth noting that I am planning to sell the condo as soon as I find and rehab the new home. Thanks for any advice!