What is a home equity line-of-credit?
A home equity line-of-credit is a revolving credit line that can be used for multiple purchases. Your credit line is determined by how much equity (ownership) you’ve established in your home. When you apply for a home equity line-of-credit, you are using the equity you’ve established in your home as collateral to borrow the money you want. Click here for more information about home equity lines of credit.
