Home » Mortgage Loan » what’s the difference between mortgage refinancing & a home equity loan?what’s the difference between mortgage refinancing & a home equity loan? need help understanding the principles… i recently bought my 1st home, or rather got a loan (mortgage) for it and i get the basics of owning a home like taxes and insurance, etc. but a few things i am a…What is the difference between… ...of credit? My mom wanted to know! =] Thanks!what's the difference between… I want to refinance and include my home equity loan and get extra money for a new car. What is the right option?