Question

Cash out refi, or home equity loan?  

Answer 1

Well at first I was thinking of just about $20k for a renovation but now I’m thinking $20k reno and $40k down payment/acquisition costs on an investment property.  

Answer 2

What do you want to do with it?  

Comments

@iconostasis23 yep. What’s the intent.  

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What @iconostasis23 said ☝

Answer 3

Depends how big the balance is. If low, equity loan, if high, cash out

Answer 4

If rates (3. 5%ish) and term (30 years) are the same, what’s the difference? Am I missing something?  

Comments

If you’re doing a reno cash or a HELOC is your best bet. Personally I hate the idea of leveraging up your personal residence to get an investment property, but the cash out refi is the better way to go on that route. Payments will be fixed and your interest rate will be locked in.