By Daniel Becerril, Executive Branch Manager, NMLS #2388968 · Updated October 21, 2026
Two ways to tap equity
A cash-out refinance replaces your whole first mortgage with a new, larger loan. A HELOC leaves your first mortgage in place and adds a line behind it.
When a HELOC often fits
If your current first-mortgage rate is lower than what's available today, keeping it can matter. A HELOC also suits needs that come in stages, like a renovation.
When a refinance can fit
If you can also improve your first mortgage's terms, or you want one payment, a cash-out refinance may be worth comparing.
Compare total cost
Look at closing costs, rate type, how long you'll carry the balance, and payment changes. Daniel can put both options side by side in writing.
Start with your numbers
Use the calculators, then request options.
General information only, not an offer, a commitment to lend, or tax or legal advice. Programs, guidelines and terms vary and change.
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