HELOC (Home Equity Line of Credit)
A HELOC is a revolving line of credit secured by your home equity — like a credit card backed by your house. You borrow as needed up to a limit during a draw period, paying interest only on what you use, usually at a variable rate.
Because it's secured by your home, a HELOC carries lower rates than unsecured debt — but missing payments can put the house at risk. It's commonly used for renovations or as a flexible reserve, and the draw period is eventually followed by a repayment period.
Put it to work
Home Equity Calculator
Calculate your home equity and how much you could borrow with a HELOC or home equity loan, based on your lender's combined loan-to-value limit.
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, PMI and HOA — plus total interest and a full amortization breakdown. Free, fast, no signup.