Refi or heloc

I am looking for ideas

I have property 2 family
slight cash flow couple hundred a month
but repairs and other incidentals above and beyond piti
will eat that up

I know the rates ar good . Credit score around 800
Currently at 6.25 fixed had property almost 2yrs

Also interested in mor property in aanotyher couple fo months or so

Should I be able to get better rate/lower payments
also thinking of HELOC for any future properties

Any toughts or ideas on which would be a better fit??? :help

Nowadays you may find it difficult to find a standalone second on a NOO property. Rates are pretty low right now but if you refinance the wholke loan chances are your rate is going to be higher than 6.25%. I guess it depends on how badly you need the funds. Check with some local banks in your area about the HELOC and if nothing pans out you can just do a cash out loan.

I’m not familiar with terminology
stand alone NOO?? Why would the rate be higher with a credit score of 800? my score has improved since I got the loan

something I am not understanding

standalone second just means that you are getting a second lien only. Not piggybacking it with a first. And the reason for the higher rate is only a guess on my part but 6.25 is pretty low for a non owner occupied property.

Loan is owner/occupied

So you live in one side and rent out the other? If that is the case then you should have no problem getting a HELOC somewhere.