Subject: Re: OT: Berkshire or mortgage
My understanding is that taking out a mortgage later on a fully-owned home (not financed) is accomplished through a cash-out refinance.

Just a side comment, as I know essentially nothing of US mortgage jargon on the ground:

In most commercial situations the term "refinance" is used solely in the context of replacing one debt with another, perhaps of different size/term/rate/conditions.
Though I don't argue with you, I for one would be deeply confused to hear the term "refinance" used in the context of obtaining a new loan secured against something already owned free and clear.

Jim