HELOC or Cash Out Refinance?

Mortgage and Lending with Guaranteed Rate, Marin County, CA NMLS: 22343

HELOC or Cash Out Refinance?



As a teenager in the '80's, our dilemmas were a little simpler --- should I stay or should I go? --- for instance.  But today's homeowner faces some additional complexities, especially when it comes to deciding the best way to finance a home renovation or other large purchase.


Using the equity in one's home has always been an enticing way to cost-effectively confront large-ticket expenses, but what's the best way to convert that equity into cash?  Should you get a home equity line of credit (a "HELOC") or should you do a cash-out refinance?  We get this question so frequently that I created a short video to cover the basics and have a little fun with one of the most iconic punk tunes of the era:



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Rock the Casbah!



Rob Spinosa
SVP of Mortgage Lending

Guaranteed Rate
NMLS: 22343 
Cell/Text: 415-367-5959 


Marin Office:  324 Sir Francis Drake Blvd., San Anselmo, CA  94960

Berkeley Office:  1400 Shattuck Ave., Suite 1, Berkeley, CA  94709

*The views and opinions expressed on this site about work-related matters are my own, have not been reviewed or approved by Guaranteed Rate and do not necessarily represent the views and opinions of Guaranteed Rate.  In no way do I commit Guaranteed Rate to any position on any matter or issue without the express prior written consent of Guaranteed Rate's Human Resources Department.


Guaranteed Rate. Illinois Residential Mortgage Licensee NMLS License #2611 3940 N. Ravenswood Chicago, IL 60613 - (866) 934-7283

Comments (5)

Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Another good one. You are doing great building your video library, Rob. 


Feb 03, 2022 08:24 AM
Rob Spinosa

Love it and thank you! As you know, at the start, you need all the encouragement you can get. When taking off, planes fly into the wind. But before you get the lift velocity, all you feel is the resistance... :-)

Feb 03, 2022 09:19 AM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Rob - life changes and ones needs can certainly evolve over time.  Having the right mortgage partner can help a person (borrower/homeowner) be better informed. And able to make better decisions.  

Feb 04, 2022 03:48 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Rob - very good video.  The choices are much more complex than they were in the 80's.

Feb 05, 2022 04:49 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Rob. Must say have refinanced and also use a HELOC. Best to know the alternatives before you choose. Enjoy your day.

Feb 05, 2022 05:41 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Great information, Rob, so consumers can make some decisions. Plus a clever way to present it.


Feb 05, 2022 05:02 PM