A home equity line of credit, or HELOC, is a loan taken out that uses a person's home equity as collateral. Contrary to a traditional loan where funds are disbursed all at once, a HELOC has a draw period during which fun... More »

www.reference.com Business & Finance Credit & Lending

A home equity line of credit, or HELOC, works similar to a credit card account in that the borrower has access to a limited amount of funds, according to Nationwide. During the initial "draw" period on the HELOC, borrowe... More »

www.reference.com Business & Finance Credit & Lending

A home equity line of credit is a revolving debt, similar to credit cards, while a home equity loan provides a one-time distribution of funds, states Bankrate. Both types of debt are secured by a home, meaning the lender... More »

www.reference.com Business & Finance Credit & Lending

A home equity line of credit, or HELOC, works similar to a credit card account in that the borrower has access to a limited amount of funds, according to Nationwide. During the initial "draw" period on the HELOC, borrowe... More »

www.reference.com Business & Finance Credit & Lending

A HELOC is a home equity line of credit. It is a credit line extended to a homeowner based on the equity value of the property. The homeowner borrows funds up to the limit allowed by the lender during an initial draw per... More »

A home equity line of credit is a revolving debt, similar to credit cards, while a home equity loan provides a one-time distribution of funds, states Bankrate. Both types of debt are secured by a home, meaning the lender... More »

www.reference.com Business & Finance Credit & Lending

Although requirements for a home equity line of credit, or HELOC, vary between lenders, most lenders require the homeowner to have two years of on-time mortgage payments, positive history of revolving credit payments and... More »

www.reference.com Home & Garden Home Maintenance Electrical