All three products convert home equity into money; they differ in structure. A HELOC is a reusable credit line (flexible, usually variable-rate). A home equity loan is a fixed lump sum on top of your mortgage. A cash-out refinance replaces your whole mortgage, which made sense when rates were falling and is a very expensive way to borrow when your existing mortgage rate is better than today's. The full guide maps use cases (ongoing renovations → HELOC; one-time known costs → home equity loan; rate-improvement plus cash → cash-out), the closing-cost math, and the one warning that applies to all three: your house is the collateral.

What the full guide covers

• How each product is structured
• Rate behavior: variable vs. fixed vs. replacing your mortgage
• Closing costs and break-even math
• Matching product to project type
• The collateral warning that applies to all three

The full guide is publishing soon. The short version above is accurate and current, and the concierge already knows everything in it.