Cash Out Refinance vs HELOC: Which Is the Best Option Right Now? (Clark Howard)

Cash Out Refinance vs HELOC: Which Is the Best Option Right Now?
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[@rhondavigil795]

While you wait, save cash. Pay cash

[@dlickas]

HELOC always. Only pay interest on what’s used rather than the whole available amount. Also with how interest rates are trending no thanks to the refi.

[@qbusqbus]

Thanks for all the details

[@linam8047]

I legit though that was Adam Sandler

[@alexanabolic5099]

In canada, banks also offer same home line of credit than credit union

[@stephendibari5010]

I tried to do a cash out refinance in February with my lender LoanDepot, my 30 year fixed mortgage interest rate would’ve went from 2.99% to 5.50% raising my mortgage payment about $725/month. No bueno. Declined the offer.

[@cjusino85]

@Stephen I tried the same. I'm currently at 4.75 rate for my home. They told me doing a cash out would be 5.99% and 1.44 Mortgage points. No bueno. I told them thanks but no thanks! Lol

[@obakasan79]

Adam Sandler looking thumbnail! Lol

[@seyris]

Great advice I looked at renovations lately it's insane how much they are asking for what I would consider simple jobs.

[@ImVeryBrad]

And for low end quality

[@lauriekline8655]

Is this Clark Howard?

[@MegaIrishcoffee]

Idk did he say, "I'm clark Howard."

[@josemv25]

That's what it says in the title, but I doubt it

[@tinkerbellpan5288]

Yes, the guy all the way on right is Clark Howard! Awesome, very intelligent man.

[@djpuplex]

Refinance the marriage.

[@youtubecarspottersguide1]

36 mo lease opt to renew