I wanted to reach out and share with you my recent interview with Jason Smith at Nova Home Loans. We had an insightful conversation about refinancing options, specifically comparing refi cashout versus HELOC.
HELOC: revolving line of credit, borrow against the equity.
Refi cashout: replaces mortgage, gives cash back.
HELOC has lower closing costs, and refi cashout has fixed interest rates.
Jason was able to provide me with a wealth of information on the pros and cons of each option and helped me better understand which option would be best suited for my financial situation. He was also very patient and willing to answer all of my questions, which made the interview process much smoother.