Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit (HELOC) is a revolving credit that lets homeowners borrow against the equity they have built in their homes. HELOC is a flexible form of borrowing that gives homeowners access to funds for various purposes, such as home improvements, debt consolidation, education expenses, or other financial needs. Key features include HELOC, home equity, revolving credit, variable interest rate, draw and repayment periods, access to funds, credit limit and loan-to-value ratio, and potential tax benefits.