Getting a home equity line of credit
A home equity line of credit (HELOC) is a secured form of credit. The lender uses your home as a guarantee that you'll pay back the money you borrow.
Home equity lines of credit are revolving credit. You can borrow money, pay it back, and borrow it again, up to a maximum credit limit.
Original Article Source Credits: Canada.ca , https://www.canada.ca/
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Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/home-equity-line-credit.html