Advice/Recommendations for banks to get a HELOC in Atlanta GA

[Audrey Easton]

Hello Everyone!

I bought my first house a year ago and I have been house hacking by renting the two extra bedrooms on AIRBNB. I have gotten some advice that it would be a good time to get a HELOC on the property before the market crashes. I don't quite have enough saved up yet to buy my next property comfortably but I would like to have access to re-use the large downpayment I put into this house when I buy my next property in a year or so.

I would love any advice about HELOC vs Cash Out Refi (I'm leaning towards HELOC). And how to find a good bank to do the HELOC. I don't know what questions to ask or if I'm allowed to not use the credit with out penalty. The two companies I have talked to are BofA and Figure.

Thank you so much for your help!

Audrey