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Loan basics

HELOC

Also known as: home equity line of credit, home equity line, HELOC loan

A revolving credit line secured by your home, usually behind a first mortgage.

A home equity line of credit (HELOC) lets you borrow against home equity up to a credit limit. Unlike a cash-out refinance, your first mortgage typically stays in place and the HELOC is a second lien. You can draw during a draw period and repay during a repayment period. FinanceFlow’s HELOC calculator models educational credit, payment, and CLTV estimates-not a lender quote.

See also

Home equityCredit limitDraw periodRepayment periodCombined loan-to-value (CLTV)Cash-out refinance
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Definitions are for general education. Loan products, insurance, and taxes vary by lender, location, and your situation. FinanceFlow calculators produce estimates only and are not a lender quote or professional advice.