What do a cash-out refi instead of taking out a HELOC?

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Cash out refinance versus a home equity line of credit? They both have positives and negatives. It ultimately boils down to your wants, needs, and goals. I think home equity loans are pretty awesome if you are taking a smaller amount of money AND have both a plan and the ability to pay it off in just a few years. Talk to your local mortgage broker. Let them discuss with you your situation, and then can help narrow down what is best for you. For this situation in MN, WI, or SD, visit me at www.MortgagesUnlimited.biz