refinancing a HELOC in first positionQuestion for my fellow Zillow professionals: If you're refinancing a HELOC, when it is the only lien on the property, is it considered a Rate & Term or Cash-Out refinance if the borrower is not taking any cash-out with the refinance on a conventional loan? I understand it's always a cash-out refinance when paying off an existing 1st and a non-purchase 2nd lien with a conventional loan, but in this case the HELOC shouldn't be considered a 2nd because it's the only lien on the property, correct? In this specific case the HELOC has been open for quite a few years. If anybody has the answer to this and can provide a link to something showing this it would be greatly appreciated. Thanks!August 16 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.