: Provides a revolving line of credit. It is ideal if you need flexible access to funds for ongoing costs like renovations.

: If you default on the new, larger mortgage, you risk foreclosure on your primary residence , even if the financial trouble stems from the second property.

: Lenders may require you to have several months of mortgage payments in reserve to show you can handle the increased debt. Alternatives to Consider

Refinancing a mortgage typically costs between 2% and 6% of your total loan amount. On a $250,000 mortgage, that's anywhere from $ www.libertybank.com Is Refinancing My Mortgage a Good Idea? - Investopedia

: You maintain just one monthly mortgage payment on your primary residence instead of juggling multiple loans.