The TRID rules and guidance state that the purpose is (1026.37 (a)(9)(ii)): Refinance. If the credit is not for the purpose described in paragraph (a)(9)(i) of this section, and if the credit will be used to refinance an existing obligation, as defined in § 1026.20(a) (but without regard to whether the creditor is the original creditor or a holder or servicer of the original obligation), that is secured by the property identified in paragraph (a)(6) of this section, the creditor shall disclose that the loan is for a “Refinance.”

The guidance goes on to give an example of cash out used to pay consumer debt not secured by the subject property, in addition to paying any existing lien on the property.

My question is what if the cash out, beyond payment of existing lien, will be used for other purposes, such as for home improvement, college tuition, etc. Would that be listed as a Refinance or Home Equity?

It would be a refinance. "Home Equity" is the last listed and the catch-all (i.e., if none of the previous titles fit, use home equity).

Thanks. That makes sense, but since that wasn't referenced in the guidance, it had me worried.