For the a mortgage cash-away refinance, you can easily replace your established financial with a brand new home loan-and just have the difference between both in a lump sum of cash. To help you receive property security financing otherwise type of borrowing, you’ll want security in your home accessible to draw off. Deciding just what choice is right for you is going to be particularly difficult, because mortgage rates of interest are more good than just the individuals provided by a property guarantee mortgage otherwise credit line.