🏠 HELOC vs Refinance: The Best Way to Pay Off Debt or Fund Renovations?

If you're a homeowner sitting on equity, you may be wondering:

"Should I refinance my mortgage or get a HELOC to pay off debt or renovate?"

Here's a quick breakdown 👇

🔄 Refinance

A cash-out refinance replaces your current mortgage with a new one — often at a better rate or longer term.✅ Great for debt consolidation✅ Predictable payments✅ Possible lower rate if market conditions are right

💳 HELOC (Home Equity Line of Credit)

Think of it as a credit card with your home as collateral.✅ Only borrow what you need✅ Flexible repayment✅ Ideal for ongoing or staged projects

❓ So, Which Is Right for You?

It depends on:

• Your current mortgage interest rate

• How much equity you have

• Whether you need flexibility or fixed stability

• How long you’ll be in the home

💬 Need help deciding? Let’s walk through your numbers and goals — and build a smart strategy for you.

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