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HELOC

   Also found in: Financial, Wikipedia 0.01 sec.
AcronymDefinition
HELOCHome Equity Line of Credit


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Home Equity Line of Credit HELOC is another popular home equity loan option.
Here are some guidelines to help you in proper decision making when taking on a home equity loan Whats the difference between a Home equity loan and Home equity line of credit HELOC A traditional home equity loan involves giving you lump sum cash, while a HELOC simply gives you a credit card or a check book which is set at a maximum amount which you can use for your purchases.
But those who can still tap their HELOC can use it to build up cash and, in rare cases, make a little money.
 
 
 
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