Cash out refi vs. HELOC on primary residence

[Aaron Anderson]

Looking for advice on financing my first rental property. I have a significant amount of equity in my primary residence. Am I better off doing a cash out refinance on my primary home or a HELOC? Mortgage details: Appraised value: $380K Loan amount: $166K Interest rate: 3.875% Term: Year 6 on a 20 year Cash out refi quote: New loan amount: $266K Interest rate: 4% Term: 30 year HELOC quote: HELOC amount: $100K Interest rate: 4.5% Terms: 10 year draw + 20 year repayment