Whenever was a funds-aside re-finance a far greater solutions? A money-aside refinance and you may a house equity loan may seem exactly the same, as they are in many ways. But they commonly exactly the same. Here you will find the biggest differences when considering all of them: Structure. When you get a finances-away refi, you will be paying the dated mortgage and receiving another one to from the the current cost. Having a house guarantee mortgage, you are keeping the existing mortgage and receiving an alternative loan. This will be an enormous work for for individuals who snagged home financing on usually lower pricing lately while don’t want to re-finance to another speed. Rates of interest. You can rating both a fixed interest rate otherwise good adjustable interest towards the a funds-out home mortgage refinance loan.