 TITLE: Is Cash-Out Refinancing Better Than a Home Equity Loan? CONTENT: Should I Use a Cash-Out Refinance or Home Equity Loan?\n------------------------------------------------------\nDeciding between cash-out refinancing and a home equity loan can depend on how much equity you've built in your home, your creditworthiness and lenders' current offers.\nIf using a cash-out refi would mean increasing your mortgage's rate or adding private mortgage insurance, then the higher monthly payment and long-term costs may not be worth it. However, if you can lock in a lower mortgage rate and get some cash out of your home at the same time, then a cash-out refi can be a win-win when you need to borrow money.\nA home equity loan might be a better option if you want to borrow a large portion of your home's value, or if you can't find a lower rate when refinancing. The monthly payments may be higher if you choose a shorter-term loan, but that also means you'll pay less interest overall. END