Definition page

Home Equity Line Of Credit (HELOC)

April 26, 2023

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A home equity line of credit, or HELOC, is a second mortgage that gives you access to cash based on the value of your home. Here, you borrow against your equity, which is the home’s value minus the amount you owe on the primary mortgage. You can draw from a home equity line of credit and repay all or some of it monthly.

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