If you own a home and it’s worth more than the remaining balance on your mortgage, you have equity. If you have equity, you can apply for a Home Equity Line of Credit (HELOC)1.
A HELOC is a revolving line of credit that you can draw on, pay back, and draw on again for a set period of time.
And if you think you can only use a HELOC to pay for home improvements like landscaping or pool installation, think again. Your Home Equity Line of Credit can be used to pay for any purchases you have coming up, including: