Both products turn equity into cash, but they're built for different jobs. Pick the wrong one and you'll either pay too much in interest or give up a low rate you can never get back.
When a HELOC wins
You have a low first-mortgage rate (under 5%), you need flexible access over months or years, the total need is under $150k, and you want interest-only minimum payments during the draw period.
When a cash-out refi wins
Your current rate is already at or above today's market, you need a large lump sum, and you'd benefit from rolling everything into one fixed payment.
Hybrid: equity loan
A fixed-rate home equity loan is the middle path. Lump sum, fixed payment, second-position pricing — protects your first rate while giving you certainty.
Use our free calculators to apply this to your situation in seconds.
Frequently asked questions
Can I have a HELOC and a cash-out refi at the same time?
Yes, but combined loan-to-value usually caps at 80%–85%. We'll model both stacked in your eligibility report.
How long does a HELOC take to close?
Faster than a refi — typically 21–30 days vs 30–45 for cash-out.