A Cash-Out Refinance allows homeowners to replace their existing mortgage with a new, larger loan, providing them with the difference in cash.
A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows homeowners to borrow against the equity of their home, typically used for major expenses, home improvements, or paying off high-interest debts.
Refinancing replaces an old loan(s) with a new loan(s), potentially securing better terms, reduced payments, or accessing cash.
