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What is a Home Equity Line of Credit?

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A Home Equity Line of Credit (HELOC) is a line of credit, similar to a credit card. You may choose to open a HELOC in case of emergency, and only use it if necessary. A HELOC uses your home as collateral and you may borrow what you need, when you need it. Contact our top reviewed mortgage brokers at Summit Lending if you'd like to learn more about opening a home equity line of credit.