A refinance is a new mortgage and a HELOC is a second loan on top of the one you have. Both can be smart, and both can cost more than they save. Start with your goal, then match the tool.
Each guide is built around one decision, with real numbers and questions to ask your lender. For the rules by loan type, the conventional, VA, FHA and USDA refinance pages are linked from each guide.
Loan program pages: Refinancing · IRRRL · FHA refinancing · USDA refinancing · The true cost of a mortgage
HELOCs
Should you refinance?
Should you refinance?
Should You Refinance Your Mortgage? The Numbers That Matter
A refinance makes sense when the savings pay back the cost before you sell or refinance again. The lower rate is only half the math. Here's how to run the full numbers.
Read: Should You Refinance? Break Even Test and Calculator
Should you refinance?
Cash Out Refinance Requirements: Equity, Income, Credit and Timing
To do a cash out refinance, you need enough equity to stay under the program's loan to value limit, solid credit, income that supports the new payment, and some time owning the home. Here are the limits by loan type.
Read: Cash Out Refinance Requirements 2026 and How It
Should you refinance?
FHA Streamline vs. VA IRRRL: Which Refinance Rules Apply?
Both let you refinance with less paperwork, often with no appraisal and no income check. But who qualifies, what it costs and the benefit test are different. Here's a side by side look.
Read: FHA Streamline vs VA IRRRL