Refinanced + Equity Loan on Primary Residence to fund BRRR

[Adriana Welborn]

We bought our primary residency in 2017, we recently refinanced (Nov 2021) to get rid of PMI, but did not add cash back. We owe 321K and the market value is estimated between 600-700 (we did not need an appraisal for refinance). Since we've built some equity we are considering getting a home equity loan for 130-150 to fund our first BRRR property.

- Is this doable? And a good idea? (I wish we would have thought of this when we refinanced in 2021)
- Who is the best lender for these type of loans? Credit Union or go back to our original lender?