Home Equity Line of Credit (HELOC)

A home equity line of credit, often known as a HELOC, is a revolving credit line secured by your house that you can use for high costs or consolidate higher-interest rate debt on other loansFootnote1 such as credit cards. A HELOC often offers cheaper interest rates than other forms of loans, and the interest may be tax-deductible. Please check with a tax expert regarding interest deductibility as tax regulations may have changed.