Banking is Personal - BLOG
A home equity line of credit, or HELOC, is a revolving line of credit that secures your home as collateral for the loan. With a HELOC, you may have ongoing access to about 85% of your home’s value, less the balance remaining on your mortgage and adjusted based on your creditworthiness and ability to pay.
There are many features and benefits associated with a HELOC. Among the pros and cons: