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Meet Bill Rapp

NMLS ID # NMLS # 228246

William Rapp, based in Houston, TX, US, is currently a Capital Advisor at Medallion Funds, bringing experience from previous roles at eXp Commercial, NEXA Mortgage, Viking Enterprise LLC and Sun Realty - Houston. William Rapp holds a 1997 - 2001 BBA in Finance @ Texas A&M University. With a robust skill set that includes REO, Sellers, SFR, FHA financing, Reverse Mortgages and more, William Rapp contributes valuable insights to the industry.

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Great experience purchasing our first home! Bill was easy to reach and always able to answer any questions or concerns.

27185 Astoria Brook Ln, Katy, TX 77494, USA

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🏡 Cash-Out Refinance or HELOC? Mortgage Tips Every Homeowner Must Know 📊

📉 Cash-Out Refinance vs. HELOC: Which Loan Boosts Your Finances? 💡

Bill Rapp, Commercial Mortgage Broker

September 27, 2025•2 min read

📉 Cash-Out Refinance vs. HELOC: Which Loan Boosts Your Finances? 💡

🏡 Cash-Out Refinance or HELOC? Mortgage Tips Every Homeowner Must Know 📊

📉 Cash-Out Refinance vs. HELOC: What’s Right for You?

When homeowners need extra cash, two popular financing tools come to mind: Cash-Out Refinancing and Home Equity Lines of Credit (HELOCs). Both options allow you to tap into your home’s equity, but they serve different purposes and come with unique pros and cons. Let’s break down each option so you can make the right financial move.

🔑 What Is a Cash-Out Refinance?

A cash-out refinance replaces your current mortgage with a new, larger loan. The difference between your old loan balance and the new one comes back to you in cash.

Pros:

· Lower fixed interest rates compared to credit cards or personal loans

· Potentially consolidate debt into one monthly payment

· Predictable monthly payments with fixed terms

Cons:

· Higher closing costs since it’s a full refinance

· Extends or resets your mortgage term

· Best suited for long-term goals like renovations or debt consolidation

🔑 What Is a HELOC?

A Home Equity Line of Credit (HELOC) is a revolving credit line secured by your home. Similar to a credit card, you borrow only what you need, when you need it, during the draw period.

Pros:

· Flexibility to borrow in smaller amounts

· Pay interest only on what you use

· Great for ongoing expenses like tuition, medical bills, or phased renovations

Cons:

· Variable interest rates can increase over time

· Payments may rise when the repayment period begins

· Requires discipline to avoid overspending

🏡 Which Option Is Best for You?

· Choose Cash-Out Refinance if you want stability, predictable payments, or need a lump sum for a major project.

· Choose HELOC if you prefer flexibility, anticipate smaller ongoing expenses, or want quick access to funds.

✅ Final Takeaway

Both cash-out refinancing and HELOCs can be powerful tools to leverage your home equity. The right choice depends on your goals, financial stability, and how you plan to use the funds.

👉 Ready to explore your options? At Medallion Funds, we’ll guide you through the numbers, compare real loan scenarios, and help you choose the solution that maximizes your financial success.

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Bill Rapp - Commercial & Residential Mortgage Broker

Whether you're a first-time homebuyer, a seasoned investor, or a business owner with ambitious plans, securing the right financing is crucial. At Medallion Funds, we take the guesswork out of mortgages, offering a comprehensive suite of residential and commercial loan options to fit your unique needs. Looking for Your Dream Home? We understand the excitement and challenges of navigating the residential real estate market. Our experienced mortgage brokers will guide you through every step, from pre-qualification to closing. We offer a variety of loan programs to suit your financial situation, including: • Fixed-rate mortgages: Offering stability with predictable monthly payments. • Adjustable-rate mortgages (ARMs): Providing competitive rates for a set period. • FHA loans: Making homeownership accessible with lower down payments. • VA loans: Rewarding veterans with attractive rates and flexible terms. Investing in Your Business Future? Growth often requires capital, and we can help you unlock the potential of your commercial property. Our brokers specialize in a wide range of commercial loan options, including: • Purchase loans: Financing the acquisition of new buildings or land. • Construction loans: Facilitating the development of your project. • Refinance loans: Restructuring your existing mortgage for better terms. • SBA loans: Providing access to government-backed financing for qualified businesses. The Medallion Funds Difference: We go beyond simply finding a loan. We take the time to understand your goals and develop a personalized strategy. Here's what sets us apart: • Expertise: Our brokers have a deep understanding of both residential and commercial lending. • Competitive Rates: We leverage our strong lender relationships to secure the best possible terms. • Streamlined Process: We handle the paperwork, keeping you informed every step of the way. • Exceptional Service: We're committed to providing you with a positive and stress-free experience. Ready to Take the First Step? Contact Medallion Funds today for a free consultation. Let's discuss your financing needs and help you achieve your dreams!

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Refinancing youe loan and when to do it

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