HELOC vs Refinancing with rates going down

[Kumar Gaurav]

Hello,

I am on the fence whether to refinance to 15 year mortgage or go with HELOC option.

I currently have a 30 year Mortgage loan at 3.5 rate of interest on my owner occupied triplex that I bought less than 3 years ago with 20% down at 750k pp.With the mortgage rates getting lower and lower would it make sense for me to refinance to 15 year? I recently got to know about HELOC , I am wondering if HELOC

is a better option for it's open endedness and rate based on per day option?Which lenders can I reach out now for HELOC?

Appreciate your feedback.

Thanks