Cash out Refi or Heloc?

[Jamar Brown]

I've been thinking if I want to do a cash out refi or heloc on my primary residence. My current interest rate is 3.25%. If I did a COR at the today's current rates do you think it would average out to be the same if I did the Heloc? Please advise BP family!

[Brittany Minocchi]

If you look at the blended rate between your low-rate first mortgage and a higher-rate HELOC or HELOAN, many times you still come out lower than what a cash out refi would be. They both have a time and a place, it just depends on what makes sense for your situation. Happy to connect!