Would i be able to I close a HELOC and do a cash out re-finance?

[Luis C Ceniceros]

I just recently obtained an  Equity line of credit on my primary residence. Since then, i have learned about cash out re-financing which caught my attention . Would i be able to close the equity line of credit and do a cash out re-finance instead ? are there any time limits, what are the pros' and con's ?  I would appreciate any feedback- Thanks