No. A HELOC is a credit line you can draw on as needed, while cash-out refinancing is when you take out a new mortgage for more than you currently owe and use the difference to pay off your old mortgage.
Both can be used to access the equity in your home, but there are some key differences. With a HELOC, you’re only borrowing the money as you need it and making interest-only payments on what you’ve borrowed. This can be helpful if you need to make a one-time purchase or want to have money available for emergencies.