Loading…
9
TIL cash out refi vs HELOC is like picking between a sledgehammer and a scalpel
I sat down with a loan officer in Austin last Tuesday to pull $40k out for a backyard patio. He laid out two paths: a cash out refi at 6.1% with closing costs near $4k, or a HELOC at 8.4% with zero upfront fees. I went with the refi because I wanted the fixed payment, hate surprises, and figured I'd be here 10 more years. The appraisal came back $12k lower than I guessed, so my loan amount got trimmed and I only got $31k out. Honestly, the extra month of waiting was the worst part, but the rate lock felt solid. Anyone else pick the refi and then wish they'd done the HELOC for speed instead?
0 comments
Log in to join the discussion
Log In0 Comments
No comments yet
Be the first to share your thoughts on this discussion.