What Is a HELOC?

What Is a HELOC? | Nasdaq

A home equity line of credit (HELOC) is a secured loan that allows you to borrow money against the equity you’ve built in your home.

As you pay your mortgage, you accumulate equity in your home. This is a form of wealth that you can tap into and use to pay a variety of expenses. A HELOC is just one way of accessing the equity. While HELOCs provide a great deal of flexibility in how you use the money, they also come with a degree of risk.

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