I need to fix my house: Should I refinance and get cash out or get a home equity line of credit?
March 13, 2010 by
Filed under home equity line of credit rates
Should I get home equity line of credit or refinance with cash out?
I want to refinance my home to take advantage of lower interests rates. I also want to renovate my house and fix some things around.
Should I refinance and get cash out to use for home improvement or should I refinance without cash out and get a separate home equity line of credit?
Note: I already refinanced last year and got cash out.
if you refinanced last year, I doubt you have ANY equity left to get any more loans or cash out. what did you do with the cash you pulled out last year?
You would have to refinance the whole existing balance form last year into one. You’re only allowed one home equity loan/line of credit at a time.