Home Equity Line of Credit Vs. Cash Out Refinance
Terry,
Which would be the better choice, a home equity line of credit or refinancing and taking cash out. Townhomes like our are now selling for 190k to 210k. Our mortgage balance is now around 150k. We would like to pay down some debt, remodel out master bathroom, and carpet the upstairs. Thanks so much for your time and opinion.
John van Eenige
Terry Says
Refinance for sure — and lock in today’s low rates. A line of credit exposes you to rising rates in the future!
