HELOC or Cash Out Refinance?
As a teenager in the '80's, our dilemmas were a little simpler --- should I stay or should I go? --- for instance. But today's homeowner faces some additional complexities, especially when it comes to deciding the best way to finance a home renovation or other large purchase.
Using the equity in one's home has always been an enticing way to cost-effectively confront large-ticket expenses, but what's the best way to convert that equity into cash? Should you get a home equity line of credit (a "HELOC") or should you do a cash-out refinance? We get this question so frequently that I created a short video to cover the basics and have a little fun with one of the most iconic punk tunes of the era:
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Rock the Casbah!
Rob Spinosa
SVP of Mortgage Lending
Guaranteed Rate
NMLS: 22343
Cell/Text: 415-367-5959
rob.spinosa@rate.com
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*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate. In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.
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