refinance vs cash out refinance

Although the upfront cost of a cash-out refinance is higher than the additional monthly expense of a home equity loan in the short-term, cash-out refinancing is less expensive in the long-term. When should I choose a home equity mortgage over a cash-out refinance, and vice versa?

 · The FHA cash out refinance is available to more homeowners thanks to lenient guidelines. Pay off debt, or get cash for any reason with this program.