Cash out refi or Heloc?

[Tyler Howerton]

Just purchased my first home using Fha 80k for the house and it got appraised at 150k as is in 6 months I plan on having the whole house updated and ready for renting! All though I am in a pickle, My plan is too either cash out refi or pull a heloc on the house too get the funds for another house for me? 

[John Warren]

@Tyler Howerton most people look to refinance out of the FHA when they are looking to buy a second building with FHA. You have a lot of options though if you are not doing 2-4 units. You might be able to go conventional and do as little as 3 or 5% down.

If this is about grabbing that equity, then you should connect with a good loan officer. I use @Joshua Jones for all of my residential loans. He can help you figure out if this makes sense or not based on the current rates, which are definitely going to be higher than when you purchased.