Would a second mortage be considered a refinanced loan or a HELOC?

[carolhl0791]

Had a second mortgage, but paid off first.  Sold my house in 2018.  Do I consider the Form 1098 as a refinanced loan or a HELOC? 

[Vanessa · Accepted solution]

It depends, a second mortgage is not necessarily a refinanced loan or HELOC.  It depends on the mortgage terms and what you used it for.

For example, if you built your house and you had one mortgage to purchase the land and a second mortgage for the home construction, neither loan would be a refinance or a HELOC. 

If however, you took out a second mortgage after your original purchase for any other reason then yes it could be considered a HELOC then.