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Blog > 2013 > May > What is a Home Equity Line of Credit?
May 09, 2013

What is a Home Equity Line of Credit?

by Hostetler, Michael

If you want to make a home improvement, take a vacation, or take care of an unexpected expense, the equity in your home may be a great way to accomplish each of these things.

A Home Equity Line of Credit, or HELOC, is a revolving line of credit that gives you the power to choose when and how often to borrow against the equity in your home. The amount of money you can borrow is determined by the difference between how much money is left on the mortgage for your home and your home's market value.

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Category: FCFCU
Your savings federaly insured to at least $250,000 and backed by the full faith and credit of the United States Government: NCUA, Equal Housing Lender, ESI