Home Equity Lines of Credit & Loan Rates

Selling your home and buying another can be a very expensive and complicated process.  Very often, it is a lot cheaper and easier to improve your current home to make it your “dream home”.

If you find yourself in a situation where you are sitting on some equity in your home, accessing that to make those improvements might be the solution.

One questions I am commonly asked about this is – is it better for me to get a home equity line of credit or to do a full refi and I believe the answer comes down to how long you plan on keeping the debt.  If it is long term debt, then a full refi makes the most sense because you can take advantage of a low, fixed rate mortgage since HELOC’s are almost always an adjustable rate loan.