HELOC or Refi Advice

[Chris Bluem]

Hi,

I have a few investment properties, one having the majority of the equity, and I am looking to understand what you all would do in this situation, thank you!

The property is worth $500K and current loan is $284K. I purchased in Jan 2021, so I would not be able to refinance until the loan seasons in July (pretty sure)

From what I read you can get a HELOC for up to 80% LTV - so $116K. Plus I was thinking maybe they would let me put my other properties on the same HELOC to unlock the the 5% equity available on each of them (2 properties that are 75% leveraged currently).

Or, do we wait till July and refinance, but only getting 75% LTV or $91K on the main house.

Just trying to think through this to best position us to purchase our next investments. Thank you!