How to get a home loan with bad credit? Both options allow you to cash in on the equity already paid into your home and use it to get ...Most popular options available are cash out mortgage refinance and home equity loans. Looking for a home mortgage usually involves you, your money, and a bank officer or a mortgage broker. So what's the big deal? You ask. The end result is the same - you get a mortgage; you get a new house. But these two job types are different and it is important that you at least understand that difference.