Home equity is the difference between your home's value and outstanding mortgage debt. You can borrow that equity with a fixed-rate home equity loan or a revolving HELOC; each has different costs, terms, and tax considerations.
A refreshed look at the fixed-rate vs adjustable-rate mortgage debate, with notes on EMC Mortgage references from the mid-2000s and what to verify today.
A cash-out refinance replaces your mortgage with a larger loan to access equity as cash. It can lower monthly payments, consolidate debt, or fund home improvements - but it raises your loan balance, may have higher rates and closing costs, and has tax and PMI implications.