What would you do Refi or keep HELOC ?

[Michael McCarthy]

I currently have a duplex that I paid for in cash through a HELOC, approximately 70K of the 165K available in total. My net income per month is approximately $800 after all bills paid and future maintenance repair money is put aside. The HELOC is a variable loan and currently at 4.5%, I called my local bank that I do business with and the refi would be 75% LTV, 20 year max at 5% (after I have owned it for 6 months which is next month), closing costs would be approximately $3200-3500. Do I refi? I would have to do a little research to see what the bank would access the house at but I think they would around $80k. Do I keep the HELOC going until I find another property to buy with the additional money and then refi to free up some of the money? What do you think is my best strategy going forward biggerpockets?

[Alexander Felice]

The HELOC is on the duplex now, and you want to refi the duplex to better terms?

if so, then yes. You're trading one debt for another with better terms and you're hedging against future interest rate risk.

The details here are important. What units have what equity, what loans are where, and how you want to deploy the cash all make a big difference in the answer here.